News
CME unveils upcoming FX Spot+ trading platform
New Clob aims to bridge futures and spot FX liquidity
Banks deploy automated pricing for longer-dated FX swaps
Dealers are streaming and auto-hedging out to 10 years in some cases
BofA, HSBC pick up Risk.net awards
US bank wins FX house for EM push; HSBC takes prime broker prize for rate risk margin updates
Citi’s head of FX electronic platforms departs
Ala’a Saeed, who oversaw its single-dealer platform, leaves US bank
CBDC features will have financial stability effects – Fed paper
Design choices could cut chance of bank runs and disintermediation, authors say
FX HedgePool launches all-to-all FX swaps matching
P2P platform starts daily matching and opens up to banks, hedge funds and ECNs
Nomura taps Deutsche’s Sharma for global options trading role
Japanese bank’s FX hiring spree continues with addition of 20-year trading veteran
Credit Suisse’s global head of FX departs
John Estrada is the latest in a string of high-profile Credit Suisse FX traders to leave the bank
Bloomberg deploys new chatbot tool to Terminal
Offering allows users to surface data and notifications from internal systems without leaving Instant Bloomberg chatrooms
Buy-siders bemoan ‘dark arts’ of corporate bond CSA discounting
Litany of pricing variables fuel wide differences in how dealers calculate discount rates for collateral agreements
UK to permanently recognise US CCPs
Regulators also launching review on long-term status of UK pension fund clearing exemption
Electronic FX swaps execution advances on 360t
Sun platform could help banks auto-hedge and develop algo execution for the instruments
Traders, vendors seek to modernise chronically underinvested FX tech
The average FX professional uses eight applications at any one time, but integrating workflows is a daunting task
New crypto Isins are a ‘really important’ step for TradFi adoption
Execs at TP Icap and Societe Generale say identifier removes major barrier for crypto acceptance
Nomura’s tech revamp propels its global FX push
Bank hopes overhaul of pricing tech and new single-dealer platform will boost FX business
Quants look to language models to predict market impact
Oxford-Man Institute says LLM-type engine that ‘reads’ order-book messages could help improve execution
FXPBs see compression tech as key for credit optimisation
FX Markets USA: Providers hope new tech solutions can help replenish credit lines to hedge funds
Why GTS bought HC Tech’s FX business
Rubenstein and Rosenwald open up on reasons for the deal – plus US lawsuit and culture questions
Banks push back on proposal to lengthen CLS cutoff time
FX Markets USA: Move to widen window could mean significant infrastructure work for banks
JP Morgan pulls plug on deep learning model for FX algos
FX Markets USA: Bank turns to less complex models that are easier to explain to clients
US insurers take different paths to hedge FX
Counterparty Radar: Maturity and size of FX forwards trades vary significantly between firms
Isda proposes new central hub for critical notices
Trade body seeks industry feedback on one-stop shop for default notices and other critical comms; sceptics say the service is “not a universal solution”
Citi’s FX unit taps Hewson for new global sales division
Bank combines sales teams focused on hedge funds and asset managers with those for corporate FX
LatAm electronification – a market stuck in the past
Electronic pricing and execution of Latin American currencies is still lagging, say dealers