Foreign exchange

• Trading

Market braces for end of Russia central bank sanctions carve-out

Isda AGM: general licence expires on May 25, threatening bond payments and deliverable ruble settlement

• 11 May 2022

• Our take

Is Citi’s SA-CCR hit a sign of things to come?

Higher cost of capital for banks dealing in short-dated uncollateralised FX swaps and forwards could impact dealers and clients alike

• 11 May 2022

• Trading

Fortunes of VAR: dealers decry effect of war on risk models

European banks with large Russian derivatives exposures face risk of backtesting exceptions – and higher capital requirements

• 09 May 2022

• Infrastructure

LSEG to launch new NDF Matching platform in Singapore

Testing for NDF Matching is scheduled for later this year with a full production launch expected in 2023

• 05 May 2022

• Trading

What every FX client should be asking their order provider

Commerzbank’s head of eTrading services, Nickolas Congdon, discusses the FX industry’s challenges around FX resting orders, streamlining manual processes and enabling objective order execution

• 26 Apr 2022

• People

Capitalab co-founder quits firm

David Bachelier leaves BGC-owned compression venture after seven years

• 29 Mar 2022

• People

Wells Fargo adds Asia FX trading and sales heads

Weeli Goh joins from TD to head Asia FX trading; Yash Biswas moves from NatWest to run sales

• 25 Jan 2022

• Our take

Direction of travel on last look becomes clear

Hold time holdouts likely to fall into line in face of increased regulatory scrutiny

• 19 Jan 2022

• Regulation

Citi drops last look hold times for e-FX

Bank joins Goldman Sachs, Morgan Stanley and UBS in ditching controversial practice after GFXC clampdown

• 12 Jan 2022

• Trading

Hedging specialists vie for swelling FX overlay business

Custodians, banks and others look to capitalise on trend for buy side to outsource currency hedging

• 06 Jan 2022

• Infrastructure

Margin rules lead to rise in Asian NDF clearing volumes

LCH and Eurex position themselves for NDF clearing uptick ahead of next UMR phase

• 30 Dec 2021

• Infrastructure

Quantum computing: kryptonite for bitcoin and cyber security

Race is on to secure new encryption algorithms for DeFi, before quantum computers become a present danger

• 22 Dec 2021

• Regulation

Argentine central bank orders foreign exchange sales

BCRA also bans “payments in instalments” for overseas travel as currency weakens

• 30 Nov 2021

• Regulation

FCA move brings regulatory risk to use of hold times

Regulator’s adoption of code, and rejection of extra hold times, means those ignoring it risk scrutiny under SMCR

• 25 Nov 2021

• Our take

Anonymous venues could do more on last look

Platforms could reduce max response times to encourage eradication of additional hold times

• 16 Nov 2021

• Regulation

Argentine central bank freezes banks’ FX purchases

BCRA order comes amid a falling peso, IMF talks and mid-term elections

• 08 Nov 2021

• Trading

The post-trade revolution: transforming the ability to manage liquidity and risk

Alex Knight, head of Europe, the Middle East and Africa at Baton Systems, explores the ongoing technological revolution in post-trade processing that consigns the problems of inefficient, costly and restrictive processes to the past

• 26 Oct 2021

• Regulation

FX prime brokers jockey for buy-side flows as IM phase 6 looms

Banks say concentrating trades through single dealer would ease paperwork logjam for asset managers

• 26 Oct 2021

• Trading

No fair: buy side takes on pricing problem in FX forwards

Interest in TCA is growing as new data sources offer glimpse into murky swaps and forwards market

• 21 Oct 2021

• Trading

For FX liquidity buyers, fewer providers mean better execution

As consumers’ understanding of best execution evolves, “quality over quantity” becomes buy-side mantra

• 14 Oct 2021

• Our take

Platforms on edge as industry eyes progress of Currenex case

Lawsuit’s passage through US courts could determine whether copy-cat filings follow

• 13 Oct 2021

• Trading

NatWest’s PB chief on not changing course after Archegos

Marcus Butt believes diversity of clients, both in size and type, is the best way to manage risk

• 12 Oct 2021

• Regulation

Currenex case may herald focus on e-FX’s ‘Wild West’ days

FX sources say “uncomfortable secrets” could emerge as attention turns to platform relationships

• 29 Sep 2021

• Trading

Morgan Stanley bests Citi as top forwards shop for US funds

Counterparty Radar: A $30bn boost from Vanguard sends MS to top of Q2 charts

• 22 Sep 2021