Foreign exchange

• Regulation

GFXC confirms zero hold times in last look

Chair says checks can’t be used to monitor client market impact – a “game changer” according to some

• 17 Sep 2021

• Regulation

Currenex class action faces hurdles, say legal experts

Case could raise questions around statutes of limitations and damages calculations

• 15 Sep 2021

• Our take

Algo sniffers make a tough business tougher

FX spot is already a hard game for many LPs, and the rise of skew sniping only makes things harder

• 09 Sep 2021

• Regulation

GFXC set to tackle reject codes

Co-vice-chair Neill Penney says group will seek to bring clarity to codes assigned to rejected FX trades

• 26 Aug 2021

• Regulation

Last look guidance receives mixed reviews

Some liquidity providers back GFXC guidance; others say it doesn’t go far enough

• 24 Aug 2021

• Trading

FX option selling and weak demand behind vol slide, say traders

EUR/USD vol inches towards pre-Covid lows, but some believe inflation could upset trend

• 17 Aug 2021

• Our take

Could prime of primes go pop?

The PoP market is booming, but some tier one banks are wary

• 12 Aug 2021

• Infrastructure

PoP goes FXPB: prime of prime fizzes, but isn’t to all tastes

Sources report ebullient growth among PoPs, despite lingering wariness around risk redistribution

• 09 Aug 2021

• Trading

How long should TWAP algos run?

BestX says modelling typical durations by notional per pair could be used to create a new algo benchmark

• 27 Jul 2021

• Tech and data

Time trials: how fast can you trade FX?

XTX calculations reveal how long different pairs take to trade throughout the day

• 15 Jul 2021

• Infrastructure

EBS Direct rebuild to bring faster speeds, new order types

New tech means trades will process 10-times faster and allow client-to-client matching

• 12 Jul 2021

• Infrastructure

LSEG buyout finally unshackles Matching and FXall

After watching the market evolve around them, platforms can finally get on the front foot

• 21 Jun 2021

• Trading

Inside Wells Fargo’s bid to take on big FX players

The third-largest US bank by assets plans to use large corporate flows to lure institutional clients

• 17 Jun 2021

• Tech and data

Dealer concentration in FX forwards

Counterparty Radar: data shows panel depth and top bank share correlated to size of manager’s book

• 15 Jun 2021

• Our take

Shining a light on FX algo disclosures

FX Markets’ new algo database will enable readers to compare offerings from the major providers

• 09 Jun 2021

• Trading

Algos on parade: how top FX algo providers stack up

New FX Markets algo database shows differences across internalisation, analytics and client data handling

• 08 Jun 2021

• Tech and data

Vanguard, FX forwards kingmaker

Counterparty Radar: How the fund giant influenced banks’ overall forwards fortunes in 2020

• 01 Jun 2021

• Tech and data

US funds’ FX forwards settlement dates show clustering effects

Counterparty Radar: Analysis shows concentrations appear on certain dates, which can differ by currency

• 25 May 2021

• Trading

FX code adherents may get better pricing, say LPs

If trading platforms reveal buy-siders’ code status, signatories could see lower prices

• 13 May 2021

• Infrastructure

Dollar’s share of global reserves falls to 25-year low

Gradual decline may stem from currency diversification by emerging market central banks – IMF report

• 10 May 2021

• Infrastructure

Singapore’s SWF starts work on cross-border payment network

JP Morgan, DBS Bank and Temasek say project will build on collaboration with MAS

• 04 May 2021

• Trading

Invesco bets on new tech to refine its FX trading

Home-grown tool will improve order routing and execution strategies, asset manager believes

• 29 Apr 2021

• Infrastructure

BIS to operate sterling liquidity facility backed by BoE

Move echoes twentieth-century arrangements when BIS acted as intermediary in swaps network

• 28 Apr 2021

• Regulation

Simm template to be expanded for SA-CCR and FRTB

Crif-plus will capture risk exposures for all instruments, boosting optimisation potential

• 27 Apr 2021