Settlement
FX settlement risk grows again in latest triennial survey
BIS also finds falling market share on primary venues and more internationalisation of emerging currencies
Best settlement initiative: Baton Systems
Baton Systems wins best settlement initiative at the 2022 FX Markets e-FX Awards
Banks look to settle non-CLS currencies on Baton
HSBC and Wells Fargo said to be eyeing expanded use of blockchain tech to currencies not covered by CLS
Market braces for end of Russia central bank sanctions carve-out
Isda AGM: general licence expires on May 25, threatening bond payments and deliverable ruble settlement
New GFXC chair aims to keep up reform on last look
SNB’s Andréa Maechler urges more liquidity providers and trading venues to address hold times
Bank of Mexico overhauls peso closing rate in fillip for derivatives
Dealers welcome changes which, they say, will iron out kinks in valuing swaps, forwards and other currency products
Regulators moot public utility to tackle settlement risk
Idea floated as battery of initiatives vie to address slowing use of PvP services
Capitolis to acquire LMRKTS
Deal for multilateral compression provider latest in wave of post-trade tie-ups, as SA-CCR bites
US funds’ FX forwards settlement dates show clustering effects
Counterparty Radar: Analysis shows concentrations appear on certain dates, which can differ by currency
HKMA and BoJ launch new securities settlement framework
New “delivery versus payment link” aims to reduce settlement risk
BIS and central banks partner to create CBDC ‘bridge’
Cross-border project will link up digital currencies of China, Hong Kong, Thailand and the UAE
PBoC eases cross-border yuan settlement policy
Central bank promotes use of yuan in cross-border settlement and financing
CLS: can’t live with ’em, can’t live without ’em?
FX settlement giant not fast on its feet, say dealers and challengers, but hard to knock down
SA-CCR switch clouded by confusion over netting sets
An effort by US regulators to incentivise the switch to SA-CCR may be having the opposite effect
Tackling settlement risk is a serious business
Unless market participants comes together, the risk in the system is here to stay
Unsettling times: why is settlement risk on the rise?
Regulators and market participants searching for answers after BIS figures show substantial increase
Baton to launch payments system for emerging currencies
Fintech company joins efforts to tackle rising settlement risk
Facebook’s libra could disrupt collateral markets – IMF paper
Collateral used to back ‘stablecoins’ such as libra will be unavailable for reuse
CLS proposes second-tier FX settlement system
Stripped-back system for EM currencies mooted to tackle rising settlement risk
FX swaps clearing redux
SA-CCR could unleash the potential of clearing, and may ignite some big changes
SA-CCR adoption may spur wider FX swaps clearing
With up to 90% lower exposures on offer, dealers say capital benefits could outweigh margin costs
Covid-19 could spur central bank digital currencies – BIS
Fear could promote use of CBDCs but data is yet to point to whether cash demand has changed
CLS data scientists try to decode FX volatility
New team has flood of info to work on, after Covid-19 trading surge pushes March volumes up 27%
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