Spot market
Ruble NDF pricing rupture alarms traders
Conflict sparks big dislocation between ruble NDF and spot, threatening hedges and clouding valuations
Banks, prime brokers and trading venues shun ruble trades
FXPBs turn away derivatives bets as spot platforms block ruble trades and NDF fixings go dark
XTX joins Currenex class-action lawsuit
Non-bank LP claims rival HC Tech could see every order submitted to the platform
The half-speed method: optimising algo timing on an execution desk
Do you trade fast or slow? XTX Markets' Matt Clarke evaluates the optimal speed for execution
NatWest Markets scraps last look hold time for e-FX
UK bank joins Citi, Goldman Sachs, Morgan Stanley and UBS in ditching controversial practice
Citi rolls out revamped FX algo execution platform
US bank’s new-look platform aims to provide algos for Asia and Latam NDFs
Cboe to cut FX trading response times in half
Incoming policy will give liquidity providers 35 milliseconds to review last look orders
Morgan Stanley and UBS remove FX hold times
Goldman Sachs follows suit in new GFXC cover sheets, but NatWest Markets holds on
Dealers look to cut SDP prices amid platform fee battle
JP Morgan offers different pricing for single and multi-dealer venues; Barclays mulls same approach
Asset managers want better access to spot crypto market
Top buy-side exec bemoans constraints in debate on use of futures versus spot for cryptocurrency
First wave of GFXC cover sheets expected December 17
Greater transparency could lead to tighter last look policies, says Bank of England FX head
Regulators moot public utility to tackle settlement risk
Idea floated as battery of initiatives vie to address slowing use of PvP services
How many times should you test an algo?
XTX Markets' Matt Clarke evaluates how often traders should test an FX algo to understand its outcome
FXPBs wary of Turkish lira risk, say hedge funds
Primes hesitant to take big positions on embattled currency
Anonymous venues could do more on last look
Platforms could reduce max response times to encourage eradication of additional hold times
Last look: who is axing hold times, who isn’t – and who won’t say
Liquidity providers rush to review trading policies as GFXC redoubles call for zero hold times
Fee standoff intensifies as FX spreads compress
As spread squeeze continues, brokers refuse to budge on trading fees
Last look add-on is disappearing. Is that good for the market?
Views diverge on whether removal of additional hold times will benefit FX liquidity consumers
Platforms on edge as industry eyes progress of Currenex case
Lawsuit’s passage through US courts could determine whether copy-cat filings follow
Currenex case may herald focus on e-FX’s ‘Wild West’ days
FX sources say “uncomfortable secrets” could emerge as attention turns to platform relationships
GFXC confirms zero hold times in last look
Chair says checks can’t be used to monitor client market impact – a “game changer” according to some
Currenex class action faces hurdles, say legal experts
Case against Goldman, State Street, HC Tech and the ECN could raise questions around statutes of limitations and damages calculations
Algo sniffers make a tough business tougher
FX spot is already a hard game for many LPs, and the rise of skew sniping only makes things harder
Societe Generale links FX algo fees to ESG targets
Clients face penalties if they fail to meet sustainability criteria during algo rental period