Foreign exchange
FX data shows hold, reject divide in G10 vs the rest
Use of analytics can help reduce last look and improve FX Code adherence, says EBS executive
India preps margin regime as parliament debates netting law
Lawmakers thrash out bill on close-out netting; margin rules likely to follow in H1
FX options see record volumes as yen goes off-script
Coronavirus outbreak and recession fears trigger frenzied trading in USD/JPY options
Average reported daily UK FX turnover hits record high
Daily turnover of $2,881bn in October 2019, up 2% from previous high of $2,821bn in April
PBoC injects 1.2 trillion yuan as markets plunge
Chinese central bank eases to support economy as coronavirus spreads; Q1 GDP growth could drop to 4%
Spot volumes on platforms resumed downward trend in 2019
But an uptick was seen in FX swaps and forwards submitted for settlement
PBoC extends market closure as coronavirus spreads rapidly
Chinese central bank extends interbank markets closure and vows to maintain ample liquidity
Iceland boosts reserves despite volatility in 2019
Central bank carried out FX interventions to offset “abrupt weakening” of krona
Chile unexpectedly halts FX interventions
In December, interventions helped peso appreciate, but it has resumed downward trend
PBoC signs Laos currency settlement agreement
Deal comes as Chinese authorities push for greater global use of renminbi
Bank of Thailand grapples with baht appreciation
Central bank relaxes FX regulations and cuts rates as baht hits six-year high
Exchange rate pass-through patterns are changing – RBI paper
Pass-through in emerging markets is non-linear, asymmetric and falling, the authors find
West Africa launches new currency in break with France
New ‘eco’ currency pegged to euro, but France will have less involvement in West African Economic and Monetary Union
First Ibor versus SOFR cross-currency swaps trades
Westpac and Citi strike BBSW/SOFR trade in landmark moment for Australian market
LMAX: bitcoin to break $30,000 in 2020
Exchange head David Mercer foresees more transparent market, freed of “pariah” of last look
JP Morgan: beating lower margins, flat volumes and the competition
Foresees collaboration with clients and technology providers on FX tech infrastructure, and working with regional players
FX HedgePool: move to clearing may be irresistible
Jay Moore says balance sheet pressures will redefine buy-side credit relationships
Debelle: last look will not be banned
GFXC head says market participants have a choice of whether to use a liquidity provider that employs the practice
