Trading

• Trading

No fair: buy side takes on pricing problem in FX forwards

Interest in TCA is growing as new data sources offer glimpse into murky swaps and forwards market

• 21 Oct 2021

• Trading

For FX liquidity buyers, fewer providers mean better execution

As consumers’ understanding of best execution evolves, “quality over quantity” becomes buy-side mantra

• 14 Oct 2021

• Trading

NatWest’s PB chief on not changing course after Archegos

Marcus Butt believes diversity of clients, both in size and type, is the best way to manage risk

• 12 Oct 2021

• Trading

Is there an optimal time to trade FX?

CME’s Phil Hermon delves into futures data to search for the ‘hidden liquidity’ available during the trading day

• 07 Oct 2021

• Trading

FX hedge ratios fall across top 10 US managers

Counterparty Radar: Proportion of forwards to assets has been sliding since Q3 2020, but some firms buck trend

• 05 Oct 2021

• Trading

BNP hits top spot for FX options

Counterparty Radar: French bank ousts long-time leader Citi as biggest dealer for mutual funds

• 24 Sep 2021

• Trading

Morgan Stanley bests Citi as top forwards shop for US funds

Counterparty Radar: A $30bn boost from Vanguard sends MS to top of Q2 charts

• 22 Sep 2021

• Our take

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

• 09 Sep 2021

• Trading

Societe Generale links FX algo fees to ESG targets

Clients face penalties if they fail to meet sustainability criteria during algo rental period

• 06 Sep 2021

• Trading

Opt in or opt out: an FX class action decision worth millions

Six banks accused of manipulation may see 40% reduction in damages if UK lawsuit proceeds along ‘opt-out’ route

• 02 Sep 2021

• Trading

Segmenting your client franchise for profit

Ludovic Blanquet, chief product and strategic planning officer at smartTrade, investigates the complex dynamics of profitable e‑FX franchises, the importance of building and consolidating client trust, and how a technology partner such as smartTrade can…

• 31 Aug 2021

• Trading

Banks lure FX algo sharks into shallow waters

Sick of losing out to predatory HFTs, dealers are trying to create liquidity pools they can trust

• 31 Aug 2021

• Trading

Stronger together: CLS’s chief risk officer on risk culture

Deborah Hrvatin discusses integrated risk management, mega-hacks and model risk

• 19 Aug 2021

• Trading

FX option selling and weak demand behind vol slide, say traders

EUR/USD vol inches towards pre-Covid lows, but some believe inflation could upset trend

• 17 Aug 2021

• Trading

Citi clearing head departs for crypto firm

Senior departure is latest among swaps giant’s clearing ranks

• 13 Aug 2021

• Trading

Clunky crypto markets serve quants well – can it continue?

Poor price discovery presents opportunities for systematic traders in super-trending markets

• 13 Aug 2021

• Trading

Cross-currency swaps set to ditch Libor in ‘RFR first’ drive

A plan to oust Libor in September is expected to spur voluntary RFR adoption for euro legs

• 30 Jul 2021

• Trading

How long should TWAP algos run?

BestX says modelling typical durations by notional per pair could be used to create a new algo benchmark

• 27 Jul 2021

• Trading

US mutual funds’ crypto holdings doubled to over $1bn in Q1

BlackRock and MSIM are among 16 US fund managers dipping their toes into crypto investing

• 20 Jul 2021

• Trading

Updates to FX Global Code include pre-hedging guidance

GFXC updates 11 of code’s 55 principles, including advice on controversial practice of pre-hedging

• 16 Jul 2021

• Trading

FOMC surprise led to hedge fund losses, say traders

Fast money caught out by June dollar bounce after Fed’s surprise hawkish tone

• 09 Jul 2021

• Trading

Futures aim to put a dent in FX swaps supremacy

Advent of margin rules sharpens appeal of exchange-traded instruments for buy-siders

• 06 Jul 2021

• Trading

The future of FX clearing and where the market could end up

Uncleared margin rules (UMR) implementation is a large undertaking for firms and there remains a great deal of preparatory work to ensure UMR readiness, with complex infrastructure and resources needing to be put in place. FX is not part of the new rules…

• 05 Jul 2021

• Trading

Renminbi splurge lifts BNPP, MSIM in Q1 options data

Counterparty Radar: Morgan Stanley IM is largest options user, following series of huge renminbi calls

• 01 Jul 2021