Taxonomy term view

Trading

Why central banks aren’t worried about FX algos – for now

Disclosure failings feed into FX code; other issues are worrying, but distant, says SNB’s Maechler

03 Dec 2020

Trading

Strike a pose: deal contingents back in vogue after mid-year slump

M&A revival breathes life into deal contingent trades, but elevated risk keeps prices high

01 Dec 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

Asia’s FX markets step to the algorithm

Buy-side use of automated trading programs builds, albeit from a low base

23 Nov 2020

Trading

How low can you go: falling cost of FX fix sparks concern

Algorithms are reducing fixing fees, but some dealers are willing to go even lower – perhaps dangerously so

16 Nov 2020

Trading

Big moves, but no panic after tumultuous US election

Treasury market saw its largest post-election move since at least 2000 – but liquidity held up

05 Nov 2020

Trading

FX vol markets shrug off US election fears

Vols are trading below their pre-election levels despite uncertainty over result

04 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

Trading

FX volatilities fall on receding US election fears

Polls point to a decisive Biden win – though some worry market is being complacent

29 Oct 2020

Trading

FX headwinds cancel out HSBC’s Q3 RWAs cut

Portfolio reductions reaped $10.8 billion of RWA savings

28 Oct 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

Trading

Time to reverse the fragmentation of FX liquidity

Vikram Srinivasan, head of spot product at 360T, argues that using technology to reverse the trend of liquidity fragmentation in FX will ultimately benefit market participants

26 Oct 2020

Trading

On dealer and currency choices, big US funds differ

Pimco, Vanguard and other fund giants account for up to 60% of forwards trades – but have very different hedging needs and dealer panels

22 Oct 2020

Trading

Kaufmann joins NatWest as FX structuring head

UK bank hires former UBS and Barclays structuring chief

16 Oct 2020

Trading

Citi promotes Perkins and Wilson to top clearing post

US bank creates clearing co-head role in wake of Kemp’s retirement

16 Oct 2020

Trading

Forward momentum: the new world of NDF trading

NDF landscape is changing as trading volumes drive electronification and algo execution – but challenges remain

09 Oct 2020

Trading

Argentina allows peso to fall faster

Central bank increases repo rate as currency falls and inflation rises, despite severe GDP contraction

06 Oct 2020

Trading

New US fund filings reveal biggest forwards dealers

Group of four banks executed 48% of sector’s trades during second quarter

05 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

Trading

An end to the loveless marriage with the US dollar?

Covid-19 represents an unexpected shock that could cause further US dollar decoupling, writes Gary Smith of Tabula Investment Management

28 Sep 2020

Trading

FX swap volumes set to rise on China govvies index inclusion

Traders expect greater use of FX derivatives if FTSE Russell adds bonds to the WGBI this week as expected

23 Sep 2020

Trading

The importance of minimising market impact

Market impact is a nuanced subject – one industry veterans are well aware of. But, with fundamental changes over the past decade shifting how FX markets function, a swath of new service, technology and liquidity providers has emerged. David Fineberg,…