FX forwards
MassMutual drives JP Morgan’s FX forwards surge with insurers
Counterparty Radar: Bank’s total values rise 72% in Q4 to crack top 10 dealer rankings for first time since Q2 last year
Barclays’ global co-head of EM and G10 flow trading departs
James Hassett leaves UK bank after 17 years in various senior FX trading roles
Isda survey explores refresh of FX derivatives rule book
Lawyers agree updates to definitions are needed, but some areas of focus may prove controversial
Mizuho fined over deal contingent FX forwards
CFTC finds clients weren't told about pre-hedging activity that likely resulted in worse pricing
Athene dominates FX forwards market for US life insurers
Counterparty Radar: Morgan Stanley claims top dealer spot in $56 billion sector
Large US funds shrink exposure to top FX forward counterparties
Smaller managers increase top-dealer allocations as big beasts pull back
Chinese corporates step up FX hedging after reopening
Exporters eye hedges as RMB strengthens, but negative forwards points are a turn-off for some
Bank ALM crisis leaves FX hedgers with steeper roll costs
Spreads on EUR/USD forwards jumped more than fourfold in past two weeks
Pimco nearly halves FX forwards book in Q4
Counterparty Radar: West Coast manager’s 45% cuts send Morgan Stanley to fifth place in dealer rankings
Living with SA-CCR, one year on
Collateral agreements and FX futures may be some of the ways to tackle increased capital costs
SA-CCR gives RBC a chance to prove its worth
RBC attempts to entice buy-side clients with aggressive FX forwards pricing strategy
Review of 2022: the return of volatility
Russia and the Fed set markets ablaze, while SA-CCR shook up FX swaps
PBoC deposit requirement hits FX hedging, again
Reinstated rule hikes forwards costs and dents volumes, but volatility sees corporate demand persist
Morgan Stanley regains FX forwards top spot
Counterparty Radar: US bank dethrones HSBC, which slipped to fourth in Q3
Senior FX exec for buy-side sales departs Citi
Caryn Freiberger most recently led North America FX sales for real money clients
FX settlement risk grows again in latest triennial survey
BIS also finds falling market share on primary venues and more internationalisation of emerging currencies
Should RMB be treated as a G10 currency?
As it becomes the fifth most-traded currency, dealers weigh pricing and risk managing RMB like a G10 equivalent
European corporates scramble for alternative credit sources
Credit lines with traditional bank counterparties exhausted since dollar rally against euro
Regional banks beef up FX pricing tools
TraderTools’ PriceOn tech enables regional banks to internalise FX flows similar to top-tier dealers
SA-CCR hit on US banks could hinder year-end dollar funding
Potential lighter presence of US banks in swaps market may affect buy side’s ability to roll hedges
HSBC claims top FX forwards spot as US banks fall back
Counterparty Radar: Morgan Stanley falls from pole position for first time since Q2 2021 amid wider volume decline
Nomura hires Leng for dual global FX trading roles
Hire comes as Nomura looks to significantly bolster its FX and macro trading division globally
Nomura targets smaller Chinese banks after first CFETS trade
Japanese bank is one of seven offshore FX dealers offering G10 pricing on China’s interbank market