Foreign exchange
Morgan Stanley back on top for US insurer FX forwards
Counterparty Radar: Bank added $1.7bn with Mass Mutual in Q4 to overtake Citi as biggest dealer
SocGen hires Estrada as global head of FX
John Estrada previously held the same role at Credit Suisse prior to his departure last year
As T+1 looms, non-US firms consider out-of-hours trading
Pruned settlement cycle forces foreign buy-siders to explore automating the FX leg of securities trades
FX losses mount after Argentina’s devaluation
Citi, Adidas among those taking hits totalling over $3.3bn in Q4 as dealers cite lack of hedging tools
Citi appoints new global head of FX product amid MD cuts
Ayesa Latif will oversee end-to-end delivery of FX products and services, as well as its electronic FX distribution platforms
IMC appoints head of FX trading
Ex-UBS exotics head Ramon Puyane to join Dutch market-maker
Banks deploy automated pricing for longer-dated FX swaps
Dealers are streaming and auto-hedging out to 10 years in some cases
BofA, HSBC pick up Risk.net awards
US bank wins FX house for EM push; HSBC takes prime broker prize for rate risk margin updates
How corporates are tooling up for FX risk
Unstable markets have forced corporate treasurers to adopt whizzier methods for managing currency exposures
Banxico’s Garcia on the intervention unwind and FX hedging
The Bank of Mexico’s operations head explains why it’s removing its forwards hedges, and how it manages carry costs
Traders, vendors seek to modernise chronically underinvested FX tech
The average FX professional uses eight applications at any one time, but integrating workflows is a daunting task
Why GTS bought HC Tech’s FX business
Rubenstein and Rosenwald open up on reasons for the deal – plus US lawsuit and culture questions
BIS wraps up cross-border CBDC trial
Project Mariana explored FX settlement using ‘automated market-makers’
SGX’s new FX platform sees increased NDF trading from US firms
Sef exemption opens door to increased US buy-side interest
On-chain FX’s brave new world excites some, worries others
Trading tokenised versions of currencies on blockchain could slash settlement risk but sceptics raise concerns over liquidity and pricing
We need to talk about pre-hedging
Dealers claim it’s a vital tool for managing risk. Clients say it’s open to abuse. How should regulators treat the problem child of financial markets?
Iosco takes aim at pre-hedging with new probe
Global standard-setter intends to release results of review in third quarter of 2024
GFMA’s disruption template paused due to Isda definition clash
Close-out framework put on hold as Isda reviews 1998 FX derivatives rule book
US banks eye collateralisation to tackle SA-CCR costs
Dealers are asking asset managers to post margin on their FX swaps and forwards to offer more competitive prices
US banks fight back in FX forwards
Price differentials have narrowed as banks learn to live with SA-CCR
Citi promotes top corporate sales exec to global FX role
The 35-year veteran takes over from Stuart Staley who led the business for two years