Non-deliverable forward
NDF liquidity in doubt as clearing approaches
Central clearing has been a long time coming for the non-deliverable forwards market and participants worry its eventual arrival may damage liquidity. By Robert Mackenzie Smith
Industry to meet regulators on FX options clearing plans
Industry plans to arrive at a workable framework for FX options clearing gather steam
FX industry leans on Emta for Sef benchmark solution
The Emerging Markets Trade Association is in the hot seat to provide Sef benchmark solutions for NDFs
Gain GTX gathers momentum as it awaits Sef licence
Gain Capital's institutional platform reached average daily volume of $20.4 billion in November, a year on from the appointment of Joseph Wald to run the platform
HKEx soft launches clearing for interdealer NDFs
Hong Kong Exchanges and Clearing becomes the latest entity to launch clearing services for FX non-deliverable forwards
FX market participants express concern and confusion over Sef trading
Trading on swap execution facilities in the US was introduced in a cloud of confusion and uncertainty. The market seems to have recovered from the initial shock, but there are concerns that Europe’s take on Sef trading will do longer-lasting damage. By…
Tullett Prebon retains forwards gong amid Sef chaos
The interdealer broker retains its hold on the forwards market, despite the disruption caused by the start of the Sef regime
LCH.Clearnet remains trusted provider for NDF clearing
LCH.Clearnet retains the award for best FX clearing house for the second successive year, having grown its cleared NDF volume and upgraded its risk management capabilities
GFI completes rise to first place in currency options
GFI Group rises from second place in last year's survey to win best broker for currency options
ForexClear launches client clearing for NDFs
LCH.Clearnet has launched buy-side clearing of NDFs on its ForexClear platform, a year after it gained approval from the UK Financial Services Authority
FX benchmark probes leave buy side unconcerned
Currency managers remain comfortable using FX benchmarks despite widespread investigations into the practice, with some questioning how benchmarks could be manipulated
Footnote 88 prompts BlackRock to abandon NDF platforms
Asset manager returns to phone trading for non-deliverable forwards after controversial footnote in Sef rules makes trading on Sefs an unattractive option for users
Chaotic birth of Sefs drives NDF trading off platforms
The first two weeks of Sef trading have seen some trading volume in non-deliverable forwards migrate to single-dealer platforms and voice brokers to avoid the rules
Clearing of physical FX in China and India a concern, says GFXD’s Ngai
Global FX division managing director David Ngai warns of the challenges associated with centrally clearing physically delivered FX products
Traiana delivers first NDF trade to LCH's ForexClear
Interbank trade in USD/KRW between HSBC and an undisclosed counterparty is the first Traiana-processed trade to be cleared through ForexClear
Digital Vega to add non-deliverable options to Medusa
NDOs in testing on Medusa platform as some market participants begin to consider alternatives to deliverable FX options that could be more easily cleared
Best provider of FX clearing: Citi
Despite the challenges associated with clearing foreign exchange, Citi wins this award as one of the best-placed banks to succeed when it becomes mandatory
FX clearing driven by capital and collateral costs rather than mandate
As mandatory NDF clearing has been delayed, the likely increase in capital and collateral requirements for FX trades is forcing some to consider clearing ahead of the mandate, say webinar participants
Icap: Sefs could lead to ‘sub-optimal hedging’
Moving NDFs to trade on Sefs could mean less hedging at longer end of the curve, says senior executive at Icap
FX Invest North America: Platform proliferation creates buy-side headache, say panellists
An overcrowded market will lead to platform consolidation, but it is too difficult to predict which venues will survive
Sucden launches electronic trading for NDFs
London institutional broker plans to expand into Asia by leveraging commodities background
Thomson Reuters matches EBS with revamped strategy
Icap's EBS and Thomson Reuters have initiated major structural changes over the past year; as they continue to evolve their new strategies, and ParFX prepares to launch with the aim of becoming a third primary venue, further structural shifts are set to…
GFI eyes expansion into PHP through Manila office
Interdealer broker hopes to offer forwards and NDFs in the Philippine peso by year-end, after it opened an office in Manila in January
Cometh the hour, cometh the Sef
Imminent rules are expected from the CFTC on the criteria required of electronic platforms seeking to become swap execution facilities under the Dodd-Frank Act