Trading
Euro/dollar crosses embrace RFRs, while other currencies lag
€STR becomes new standard for euro cross-currency swaps; CAD and AUD stick with legacy rates
Buy-side traders start to cool on ESG-deficient dealers
Managers adopting ESG metrics in counterparty evaluations may exclude dealers that aren’t up to scratch
Hedging specialists vie for swelling FX overlay business
Custodians, banks and others look to capitalise on trend for buy side to outsource currency hedging
B2C2 platform seeks to bring banks into crypto derivatives
By using a Japanese bank as intermediary, market-maker hopes to tap into growing trading demand from dealers
JP Morgan flies into top FX options spot
Counterparty Radar: Renminbi/US dollar trades also keep Morgan Stanley IM in front
EU’s IM model validation rules may put Simm in jeopardy
Draft RTS creates validation hurdles and cross-border conflicts, industry warns
Morgan Stanley and UBS remove FX hold times
Goldman Sachs follows suit in new GFXC cover sheets, but NatWest Markets holds on
Morgan Stanley solidifies forwards lead as Citi and BNP slip
Counterparty Radar: Non-G10 pairs regain momentum despite dip in total positions in Q3
SA-CCR brings little succour for FX dealers and clients
Spreads on swaps and forwards likely to widen as banks adjust to capital-intensive regime
Lack of incentives slow uptake of deliverable FX clearing
Absence of regulatory drivers and use of prime brokerage curbing demand, say panellists
Asset managers want better access to spot crypto market
Top buy-side exec bemoans constraints in debate on use of futures versus spot for cryptocurrency
Digital Vega aims to slash FX options fees with new Clob
Traders hope platform can loosen grip of voice brokers, despite concerns over market fragmentation
Leveraging data in e-FX trading
In a world where electronic trading has infiltrated virtually every aspect of today’s FX market, having access to data and the means to interpret it are fundamental components of a successful e-FX strategy, writes Daniel Chambers, head of Data &…
Bank FX teams eye slice of crypto derivatives action
Business heads increasingly confident that trading will reside in their patch
Regulators moot public utility to tackle settlement risk
Idea floated as battery of initiatives vie to address slowing use of PvP services
How many times should you test an algo?
XTX Markets' Matt Clarke evaluates how often traders should test an FX algo to understand its outcome
FXPBs wary of Turkish lira risk, say hedge funds
Primes hesitant to take big positions on embattled currency
Anonymous venues could do more on last look
Platforms could reduce max response times to encourage eradication of additional hold times
Last look: who is axing hold times, who isn’t – and who won’t say
Liquidity providers rush to review trading policies as GFXC redoubles call for zero hold times