Trading
Tarns gain favour as investors seek to exploit range-bound pairs
Target accrual redemption notes have regained some popularity after losing favour during the crisis, but investors are keeping a firmer eye on the risks, say dealers
Foreign exchange market set for growth in 2013
Drop in global asset correlation and regulation set to favour foreign exchange
Thomson Reuters Dealing expands into Nepal
Vendor reveals that 21 dealers in Nepal are live on its conversational dealing platform
Rolling spot faces inclusion in Dodd-Frank
FX spot is expected to be exempt from US clearing and exchange trading rules, but rolling spot could be classified as a CFD and so included within the scope of Dodd-Frank
Broader US person definition could cause clearing avalanche, participants warn
A large number of offshore funds could be classified as US persons once a CFTC exemption expires in July, subjecting them to Dodd-Frank transaction-level rules
CFTC ‘neglect’ of Sef rules angers platform providers
After missing numerous deadlines to finalise the criteria for Sefs, the CFTC will not publish the rules until late April at the earliest, much to the frustration of market participants
Demand for new FX trading platforms boosts providers
New trading platforms are being created to fill the gap between incumbent providers and the more niche areas of the market. Saima Farooqi looks at some of them
Client funds are safe, claim Cyprus-based FX brokers
Cyprus has become a haven for retail FX brokers in recent years, but the crisis that has arisen from the rejected bailout package this week has unsettled the market
Currency investors discuss strategies for 2013
FX Invest asks industry experts to describe their experiences during 2012, and what they are looking forward to in 2013
Corporates await final Dodd-Frank details as deadline approaches
As Dodd-Frank deadlines loom for corporate derivatives users, treasury desks with sophisticated FX hedging programs should be steadily adapting compliance systems. But with regulatory energy focused on swap dealers, corporates are still waiting for…
Renminbi hedging and Africa: the final frontier
Bond deals in Brazil and Mexico and initiatives to make London a centre for RMB trading have signalled the global status of China’s currency. A rapid expansion of Chinese trade with Africa has seen the yuan move into the final frontier in global…
‘Easy’ stage of yen decline is over, says Jim O’Neill
Further weakening of the Japanese yen may be more gradual than in recent months, but the yen and the Swiss franc are the only G-10 currencies worth trading, says GSAM chairman
CFTC rules on mid-market disclosure put banks under pressure
With just six weeks to go until the deadline for banks to disclose the mid-market price on certain FX trades, banks face considerable technology hurdles to comply
IPM sees buy-side differentiation through early adoption of e-FX
Fredrik Wingren, head of trading at Informed Portfolio Management in Stockholm believes being an early adopter of new technology gives the firm added clout in helping develop products in conjunction with the sell side
Banks vie for position in taking EM currencies electronic
Electronic trading is beginning to take off for emerging market currencies as banks race to meet client demand for a means of trading EMFX electronically. What unique challenges exist when it comes to e-FX in emerging markets? Miriam Siers reports
Russia remains slow to adopt real-time settlement
Participants believe the development of Russian ruble trading could be in deadlock as a result of the slow adoption of real-time gross settlement by Russian banks
CFTC's Gensler defends swaps vs futures margin disparity
Forthcoming Sef rules will not address margin concerns raised by Bloomberg
Sucden launches electronic trading for NDFs
London institutional broker plans to expand into Asia by leveraging commodities background
Singapore eyes regional hub status for offshore RMB
Addressing ACI Congress delegates, deputy prime minister and chairman of the Monetary Authority of Singapore talks up Singapore’s ability to facilitate the growth of renminbi trading outside China
Commodity correlation returning to pre-2008 levels, say analysts
The tight link between commodities and equities is easing as firms become less worried about macro shocks, say analysts
Banks claim €300 billion hole in margin study
Banks call for Basel Committee and Iosco to re-run study on impact of uncleared margin rules after errors emerge
CTAs are an inexpensive and effective tail hedge, says AHL
Momentum strategies are rooted in observable market phenomena and tend to perform well in times of financial stress, says AHL’s chief scientist.
Central banks grapple with risks arising from FX reserves
Holdings of foreign exchange reserves at central banks has increased since the crisis, and market participants believe diversification into new currencies could now pick up
Saxo Bank and Gain Capital net profit collapses by 80% in 2012
Online bank and trading companies suffer as retail trading volumes fall amid stagnant markets