Swaps

• Tech and data

Capitolis signs data deal with CLS

FX optimisation service to use settlement utility’s data to help boost efficiency

• 14 Jan 2021

• Regulation

Investors eager for next round of China financial reforms

Bond futures and credit default swaps the missing pieces

• 05 Jan 2021

• Regulation

US regulator casts doubt on key SA-CCR netting benefit

OCC rejects suggestion banks can net certain cleared client exposures; Fed stays silent

• 18 Dec 2020

• Infrastructure

SA-CCR proves a bitter pill for US banks to swallow

Dealers concerned new regime will punish some business lines with rise in risk-weighted assets

• 03 Dec 2020

• Infrastructure

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

• 27 Nov 2020

• Trading

Banks explore ESG-linked deal contingents

Trend for tying derivatives to ethical criteria could soon extend to deal contingent hedges

• 24 Nov 2020

• Trading

HKEX to clear SOFR cross-currency swaps from early 2021

Legacy Libor cross-currency swaps could move to SOFR discounting at the same time

• 02 Nov 2020

• Infrastructure

Ex-Isda risk chief: ditch gross notional thresholds for clearing

10 years on, David Murphy says mandate should be rebased to exempt less risky firms

• 07 Oct 2020

• Trading

Taiwanese central bank asks for smaller dollar trades

Large dollar orders may slow down foreign exchange transactions, central bank says

• 29 Sep 2020

• Our take

Peer-to-peer is not a zero-sum game

Some mistakenly talk of P2P as taking over the swap market, but it will be more of an accompaniment

• 02 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

• Infrastructure

The FX swaps client clearing comeback

Chatter about the service is picking up again, but significant hurdles remain

• 01 Sep 2020

• Infrastructure

Swaps platform aims to cut out the banks – but not entirely

Peer-to-peer newcomer FX HedgePool targets asset managers’ month-end hedging activity

• 06 Aug 2020

• Regulation

Taiwan regulator open to more onshore insurer FX hedging

Central bank suggests lifers can use onshore swaps to hedge dividends, but some warn it could hit NDF market

• 05 Aug 2020

• Our take

FX swaps clearing redux

SA-CCR could unleash the potential of clearing, and may ignite some big changes

• 27 Jul 2020

• Infrastructure

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

• 07 Jul 2020

• Trading

Banks tout early roll dates for FX swaps as quarter-end looms

Asset managers open to more flexible hedging strategies since March turbulence, say dealers

• 11 Jun 2020

• Trading

Investors trade the drama out of the crisis

How LGIM, Axa IM, Manulife and other buy-siders tackled the toughest markets since 2008

• 13 May 2020

• Trading

Forwards spreads fall but won’t hit January levels, say traders

While bid/offers have shrunk since March’s highs, dealers expect them to remain elevated

• 06 May 2020

• Trading

How carbon-cutting Drax manages currencies and credit

Interview: UK power giant uses option selling – and other tactics – to create hedging headroom

• 02 Apr 2020

• Regulation

Fed extends dollar funding to more central banks

New repo facility aims to ease strains caused by global flight to the safety of dollars

• 01 Apr 2020

• Trading

First SOFR versus CORRA cross-currency swap hits market

JP Morgan and National Bank of Canada extend SOFR cross-currency trading into Canadian market

• 21 Feb 2020

• Tech and data

Average reported daily UK FX turnover hits record high

Daily turnover of $2,881bn in October 2019, up 2% from previous high of $2,821bn in April

• 04 Feb 2020

• Trading

FX HedgePool goes live with three buy-side firms

Two US buy-siders trade with European firm on peer-to-peer utility created for them to source liquidity from each other

• 04 Feb 2020