FX forwards

• Trading

Dealers advancing electronic FX swaps trading on CME

Deutsche Bank is among a handful of dealers using CME’s FX Link platform to help automate market-making

• 05 Jul 2022

• Regulation

European banks can’t escape SA-CCR hit, warns FX exec

Although not yet directly affected, EU dealers may feel regulation’s impact, says Goldman’s Wilkins

• 28 Jun 2022

• Trading

State Street flies high in FX forwards as Goldman, Citi dive

Counterparty Radar: Goldman loses half of market share, drops out of dealer top 10

• 20 Jun 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

SA-CCR hits Citi’s FX forwards pricing

Four clients say US bank has quoted “less competitive” spreads as a result of new capital regime

• 22 Apr 2022

• Trading

Pimco, Franklin Templeton affiliates top for Russia derivatives exposure

Counterparty Radar: Funds had biggest long exposures to Russia across credit, rates, FX at end of Q4

• 15 Mar 2022

• Trading

Traders turn to ruble NDFs to avoid sanctions trouble

Basis between physical and non-deliverable trades hits record high as users shun local currency

• 24 Feb 2022

• Trading

Fears over strong dollar put Asia’s hedgers on edge

Local corporates look to manage US dollar exposures in response to inflation and Fed tapering concerns

• 25 Jan 2022

• Infrastructure

Vanguard eyes DLT for FX forwards after smart contract success

Fund giant hopes roll-out of tech in 2022 will deliver greater efficiency and pricing benefits

• 20 Jan 2022

• Trading

Morgan Stanley solidifies forwards lead as Citi and BNP slip

Counterparty Radar: Non-G10 pairs regain momentum despite dip in total positions in Q3

• 16 Dec 2021

• Our take

Dealers face tough test on FX costs

Banks may pass on SA-CCR capital costs to FX clients

• 15 Dec 2021

• Trading

Lack of incentives slow uptake of deliverable FX clearing

Absence of regulatory drivers and use of prime brokerage curbing demand, say panellists

• 10 Dec 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

• Regulation

US banks step up FX optimisation push as SA-CCR looms

With swaps and forwards hit hard by new capital measure, dealers turn to vendors and bilateral restructuring

• 19 Oct 2021

• Trading

FX hedge ratios fall across top 10 US managers

Counterparty Radar: Proportion of forwards to assets has been sliding since Q3 2020, but some firms buck trend

• 05 Oct 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

• Trading

Futures aim to put a dent in FX swaps supremacy

Advent of margin rules sharpens appeal of exchange-traded instruments for buy-siders

• 06 Jul 2021

• Trading

Jumbo trades propel BNPP, TD up forwards rankings

Counterparty Radar: In Q1 2021 data, outsiders are eating into US banks’ business with domestic funds

• 24 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

• 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

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

FX HedgePool targets Europe as volumes grow

Platform eyes expansion, as swaps volumes hit $1.5 trillion since inception

• 25 Mar 2021

• Trading

Vanguard extends forwards dominance as Citi dips

Counterparty Radar: Fund giant responsible for more than a third of total forwards volumes and half of EUR/USD in Q4

• 18 Mar 2021