Trading
ESG-linked hedges raise interest – and questions
Carrot-and-stick trades pay off if green targets are hit, but setting and monitoring those goals is tricky
In choppy FX markets, algos buck expectations
Goldman, Nomura and others report increased volumes, although some clients revert to principal quotes
For FX dealers, virus brings volumes
Mixed feelings for sell-side traders as Covid-19 spurs wave of speculation and hedging
India exchange to debut rupee derivatives settled in US dollar
Launch of onshore futures and options unlikely to dent offshore volumes, though
Dealers turn to mid-cap and EM deal-contingent trades
Premiums of more than 25% are attractive to banks battling low vol and increasing competition
FX options see record volumes as yen goes off-script
Coronavirus outbreak and recession fears trigger frenzied trading in USD/JPY options
Who killed FX volatility?
Beyond central bank policy, traders see a range of hidden structural factors at work
First SOFR versus CORRA cross-currency swap hits market
JP Morgan and National Bank of Canada extend SOFR cross-currency trading into Canadian market
Vanguard takes the P2P plunge
Interview: Andy Maack seeks to lower costs and dealer dependence via buy-side matching
Morgan Stanley FX loss leaves ill-feeling, questions in wake
Options traders saw odd quotes by US bank months before losses were publicised
Investment Association calls for standardisation of FX reject codes
The 13 new high-level categories will allow rejection causes to be remedied quicker
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
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
PBoC injects 1.2 trillion yuan as markets plunge
Chinese central bank eases to support economy as coronavirus spreads; Q1 GDP growth could drop to 4%
Spot volumes on platforms resumed downward trend in 2019
But an uptick was seen in FX swaps and forwards submitted for settlement
BIS calls for wider adoption of FX Global Code
Yet some industry participants question the benefits of asset managers signing up to the voluntary principles-based document
PBoC extends market closure as coronavirus spreads rapidly
Chinese central bank extends interbank markets closure and vows to maintain ample liquidity
Refinitiv pledges FX brokerage to Australian bushfire relief
The area already burned is triple the size of the land destroyed by the 2018 California fires and six times that of last year's fires in the Amazon
Morgan Stanley more than doubles Q4 Ficc revenues
All US banks see Ficc revenues improve substantially in Q4 versus a year ago
StanChart’s e-FX trading engine goes live in Singapore
Trade latency has been cut by more than 80%, Standard Chartered says
Colombia culls external reserve manager to boost competition
From 2016–18, the central bank reduced the number of institutions from seven to six