Risk management
UBS: last look is sticking around, but conversation evolving
Bank says transparent and open discussion can produce “mutual benefits going both ways”
JP Morgan tells HFTs: you’re ‘all finding homes’
But credit intermediation space has inefficiencies that more kill switches would address, conference hears
Citi shockwaves prompt rush for new PBs
BNP Paribas, Deutsche Bank, HSBC and NatWest said to be onboarding Citi’s former clients
BoE drops Libor for hedging UK FX reserves
Central bank adopts Sonia in Treasury swap programme, consults on restrictions for Libor collateral
Keeping the robots honest
Human overseers are in short supply in an arena where losses can be crippling within minutes
Citi culls HFTs from FXPB client list
HC Technologies, Jump Trading and Virtu Financial among those told to find new prime broker
FXPB fee jump unlikely, say dealers
HSBC and NatWest say client charges unlikely to rise significantly despite new margin costs
CloudMargin taps TriOptima’s Connolly for CEO
Stuart Connolly, who served as TriOptima group CEO since 2017, will take over from Steve Husk
FXPBs over-allocating credit to algo and high-speed trading
Thinly capitalised trading firms are an accident waiting to happen while dealings on multiple venues make credit limits hard to set, claim market participants
HSBC looks to AI to unearth data patterns around commercial activity
As DLT initiative brings forth more data, the bank is looking to improve services for corporate clients
Want to catch misbehaviour? Watch the electronic chat
“It’s amazing how many people have arguments on chat” – BNP surveillance executive
European Commission fines five banks €1.07 billion for FX rigging
Cartel members co-ordinated trading strategies and exchanged client information
Not random and not a forest: black-box ML turns white
UBS tackles problem of optimal order placement in FX smart order router with machine learning
Industry pushes back on Citi’s FXPB cost claims
Rivals question apex brokerage’s calls for executing brokers to make up mispricing shortfalls caused by incoming rules
Record boosts presence in North America
Specialist currency manager bolsters on-the-ground presence as it eyes market opportunities in region
Currency losses at North American corporates rise to nearly $21 billion
Currency gyrations from geopolitical events continue to create headwinds for some businesses
Traiana boosts risk controls for FXPBs
Providers can be more specific about the risks they are willing to take
LCH plans major FX clearing expansion
CCP to tackle cash-settled options, deliverable swaps and standalone service for deliverable forwards
Digital FX settlement volume tipped to rise tenfold
DLT platform aims to settle $100 billion of currency trades by year-end
What FX industry thinks will spur Asia's derivatives growth
Close-out netting certainty and liberalisation of local markets are key, Isda survey finds
Deutsche Börse in talks to buy Refinitiv FX units
Negotiations confirmed, but not whether FXall is on the sale block
Singapore’s banks eye internal models for FX desks
New market risk regime dangles capital savings for own-models approach
Basel Committee raises cryptocurrency concerns
Continued rise of crypto trading could lead to financial instability, BCBS warns
LCH adds five currencies to non-deliverable swaps offering
Expansion in response to customer demand in Asia and Latin America