Spot market

• Infrastructure

LSEG to replatform Matching and FXall

Migration to stock exchange’s tech platform aims to deliver faster speeds and more order types

• 11 May 2021

• Our take

Internalisation in the spotlight? Don’t hold your breath

Industry relaxed about internal hedging despite BIS warning of potential threat to price discovery

• 06 Apr 2021

• Infrastructure

Could private match-making sink public market?

Rise in internal hedging sparks debate over its threat to price discovery

• 23 Mar 2021

• Infrastructure

Growing internalisation could threaten price discovery, say LPs

Dealers might have to deliberately hedge on venues to bolster data, says Credit Suisse’s Estrada

• 09 Feb 2021

• Regulation

EU benchmark drama set for cliffhanger end

Access to key FX rates due to be decided six months before potential cut-off

• 22 Dec 2020

• Regulation

Vanguard signs FX Global Code

World’s second largest asset manager adopts code after seeing positive impact on market

• 14 Dec 2020

• Regulation

GFXC eyes standardised disclosure cover sheets

New docs planned to allow easier comparisons of algos and LP dealing terms

• 11 Dec 2020

• Regulation

EC looks to GFXC on potential regulation of spot FX

GFXC to meet this week about revising global FX code, which may influence European legislator stance

• 07 Dec 2020

• Infrastructure

Bilateral streams slash FX trading costs by 80%, dealers claim

Risk Live: FX dealers report 70% of spot traded in bilateral feeds, at least four times cheaper than RFQs and venues

• 13 Nov 2020

• Trading

PBs seek remedy for credit addiction in FX

Group set up after big Citi loss considers limit-checking hub, among other options

• 27 Oct 2020

• Infrastructure

Unsettling times: why is settlement risk on the rise?

Regulators and market participants searching for answers after BIS figures show substantial increase

• 01 Oct 2020

• Tech and data

Dealers divided over paring FX spot venue connections

Some liquidity providers aim to follow Citi’s lead and cut platforms, but others are wary

• 17 Sep 2020

• Trading

How Shell integrated FX algos into its corporate treasury mix

Interview: oil giant puts up to 50% of spot flows through algos, explains FX head Michael Dawson

• 02 Sep 2020

• Trading

Nomura targets US in FX rebuilding effort

Return of volatility sees Japanese bank rehire in New York and focus global business on Asian pairs and FX options

• 28 Aug 2020

• Tech and data

FX algos and the weight of industry expectations

Algo usage may reach saturation point unless operators try something new, writes Matt Clarke of XTX Markets

• 25 Aug 2020

• Trading

MUFG: Covid response could spur e-FX shift in Japan

FX head says operational agility during pandemic could lead to greater electronification

• 21 Aug 2020

• Regulation

Lawyers divided on Johnson’s Supreme Court prospects

Ambiguity in wire fraud statutes may see court accept ex-HSBC trader’s appeal – but it’s a long shot, say attorneys

• 21 Jul 2020

• Tech and data

Citi to focus on just five FX spot platforms

More venues face axe as US bank says it wants to route 90% of e-volume through small group of vendors

• 09 Jul 2020

• Trading

Inside March madness with Citi’s Tuchman

Interview: Trading rooms went virtual, central banks stepped up – but some platforms flopped

• 14 May 2020

• Regulation

Spot FX shies away from regulatory yoke

As Europe weighs Aussie-style rules for spot trading, some see benefits – but many fear the burden

• 11 May 2020

• Trading

Market turmoil causes traders to pull back to vanilla strategies

Emerging markets spreads tighten but liquidity still patchy

• 04 May 2020

• Trading

How Goldman’s algos adapted to virus vol

Interview: Ralf Donner explains why algo usage is up while markets are down

• 15 Apr 2020

• Regulation

Applying Mifid to spot FX could backfire, warns MEP

EC would need to make "very compelling case" to draw spot market into wider regime, says Ferber

• 09 Apr 2020

• Infrastructure

Fee fight: dealers take aim at brokerage costs

Old tensions have new edge as banks urge clients to bypass platforms

• 06 Apr 2020