FX forwards
Limited-loss hedges help US firms dodge costly FX moves
Structurers say US corporates’ use of options-based net investment hedging helped soften impact of USD selloff
Goldman Sachs doubled FX trading revenues in 2024
Bumper Q4 powers bank to head of US dealer pack by foreign exchange revenue
Positive M&A outlook could boost deal contingent hedges
Traders predict hedging activity linked to deal completions will take off this year
TD, Goldman make strides with Ucits in FX forwards trades
Counterparty Radar: JP Morgan AM notional crossed $100 billion threshold in first half of 2024
Corporates pressed on FX hedges as dollar surge bites
CFOs increasingly facing tough questions about impact of exchange rates on foreign revenues
Corporates eye complex FX hedges as carry costs mount
Leveraged forwards and options-based structures entice treasurers facing rates uncertainty and FX volatility
LCH expects to boost deliverable FX clearing with new adds
Onboarding of dealers and link-up with CLS could swell interbank deliverable FX clearing volumes
BNY hires Deutsche Bank’s Wu to revamp e-trading
New York-based bank is combining e-FX spot, e-FX forwards trading and strats group
Review of 2024: FX traders face new paradigm
Volatility from elections and central bank policies shaped trading activities, while LPs innovated
Pimco and Vanguard slash FX forwards trading with BNP Paribas
Counterparty Radar: French bank sees its notional with mutual funds halve
Cross-currency futures could ease bilateral burden – CME
Quarterly €STR-vs-SOFR contract could be used by Stir desks to manage currency basis risk
CME’s FX Link sees bumper volumes as dealer use cases grow
Offsetting rates impact and FX swaps price discovery cited as new reasons to use venue
Forward thinking: Banks adapt P&L mark-out tools for FX forwards
Dealers modify market impact measurement to get better handle on profitability – and client value
BNP Paribas’ FX forwards notional jump 75% in Q2
Counterparty Radar: French bank’s increased trading with Pimco lifts it into top spot
UBS taps Averre for electronic FX STIR role
Former BNPP veteran will lead electronification and automation strategy for STIR trading
FX forwards dealers face added challenges in P&L analysis
Mark-out tools for forwards and swaps trading may not be a panacea
HSBC loses FX forwards market share with EU funds
Counterparty Radar: UK bank reported 6% drop in notional volumes with Ucits funds in H2 last year
Survey: FX swaps e-trading sees greater client sophistication
BofA study shows increasing electronic trading of derivatives as users embrace MDPs and APIs
FX HedgePool extends credit intermediation beyond FX swaps
New service lets buy side trade spot and forwards with LPs without prior credit ties, including non-banks
Data reveals hidden clockwork of FX forwards market
More than 70% of Vanguard’s volumes and nearly half of Pimco’s regularly occur on just four calendar days
Pimco doubles down on FX forwards trades in Q1
Counterparty Radar: Pimco accounted for nearly 60% of all notionals added by mutual funds