Trading
Rising cost of credit drives corporates back to voice trading
Corporate treasurers have been facing up to the increased costs of hedging as their bank counterparties deal with regulation, but some say rising credit charges are driving them to revert from electronic platforms to voice trading. Joel Clark and Miriam…
StanChart looks to eclipse rivals in OTC derivatives
New 'Eclipse' business under Andrew Sterry and Luke Brereton will focus on execution, clearing, liquidity and portfolio services in over-the-counter derivatives
FX Week Europe: 'Patchy' liquidity in FX a concern for the future
Concentration in the number of liquidity providers and the reliability of HFT market-making raises concerns for senior industry officials
FX Week Europe: Eurozone break-up ‘inevitable’, says ECU currency chief
Short-term policies have delayed the break-up of the eurozone, but a disorderly exit of debt-laden countries is inevitable, says chief investment officer Michael Petley
FX Week Europe: Currency managers need to react to short-term trends
Buy-side speakers at the conference divided on prospects for the euro, but all agree investment needs to adapt to short-term trends in currencies
FX Week Europe: Fix reform must address risk-reward imbalance
Banks should be better compensated for the risk they take when executing trades at benchmark rates, say panellists at London conference
FX Week Europe: Fed is in ‘La La Land’ on monetary policy
SG CIB's chief currency strategist hits out at Federal Reserve's failure to appreciate the implications of its QE and interest rate policies
Industry in discussions to change FX benchmark calculation, says ECB official
Senior market participants have suggested widening the time window in which benchmark exchange rates are set in FX, following allegations of manipulation
Mifid rules could force FX swaps onto OTFs
Trialogue negotiations on Mifid II are expected to conclude by February, but traders fear they could include a mandate for FX swaps to be traded on organised trading facilities
FX market participants express concern and confusion over Sef trading
Trading on swap execution facilities in the US was introduced in a cloud of confusion and uncertainty. The market seems to have recovered from the initial shock, but there are concerns that Europe’s take on Sef trading will do longer-lasting damage. By…
Lynn Challenger talks to FX Invest
Michael Watt asks Lynn Challenger, managing director of global trading at Mellon Capital Management, about the ups and downs of 2013, the merits and demerits of FX trading styles, and his outlook for 2014
Systematic FX traders search for solutions after tough year
Some say systematic trading’s reliance on macro events and its slaveish dependence upon automation produces inconsistency, but is discretionary trading any better? Maybe a combination of both could be the answer. Michael Watt reports
FX Week Forum: Citi tops Best Banks survey
Joel Clark interviews Anil Prasad, Citi's global head of foreign exchange and local markets, after Citi was voted top in FX Week's annual market survey
A call to responsibility in foreign exchange
As Citi tops this year's Best Banks survey and the FX industry struggles with reputational issues, the bank should be commended for its philanthropic initiative, E for Education
Best Banks 2013: Citi reclaims top place from Deutsche
US bank has returned to top position in foreign exchange, having been voted best bank overall for FX dealing in the 2013 Best Banks survey
Tullett Prebon retains forwards gong amid Sef chaos
The interdealer broker retains its hold on the forwards market, despite the disruption caused by the start of the Sef regime
Bank of Montreal's strategy team awaits the taper tantrum
The imminent tapering of US quantitative easing will cause further weakness in the Canadian dollar in 2014, says Greg Anderson, BMO's new head of FX strategy
Industry calls for changes to benchmark practices
Ongoing investigations into manipulation of FX benchmarks have led to calls for changes to the way the WM/Reuters exchange rates are used
EBS Direct launch could reverse volume decline, say participants
The full launch of EBS Direct opens up a new market segment that could be an opportunity to claw back market share lost in recent years
StanChart creates global RMB trading team
New team headed by Charles Feng seeks to tackle time zone challenges by having renminbi traders located across geographies
ADS Securities rolls out multi-asset platform
New platform Orex Optim has now fully launched after two years of development and six months of testing at the Abu Dhabi-based firm
Saxo looks to capture the middle ground of hedge funds
Following a major restructure at the start of the year, the Danish bank is now looking at a new growth area - the delivery of multi-asset class support services, including capital raising, to emerging hedge funds
Esma repository approvals fire starting gun for EU trade reporting
Mandatory trade reporting for all asset classes will begin on February 12, but the FX industry is still grappling with the challenges of dual reporting
ForexClear launches client clearing for NDFs
LCH.Clearnet has launched buy-side clearing of NDFs on its ForexClear platform, a year after it gained approval from the UK Financial Services Authority