News
MSIM option strategy set for payout
Manager has spent over $400 million buying options that have yet to generate returns – until now
Regional banks beef up FX pricing tools
TraderTools’ PriceOn tech enables regional banks to internalise FX flows similar to top-tier dealers
Corporates rush to hedge emerging market currency risks
Falling forward points have reduced cost of hedging further drops in Chinese renminbi
Vendors urged to curb toxic FX flows
FX Markets USA: Dealers may reward vendors that ‘self-regulate’, says Goldman Sachs’ Chattaway
Operational hurdles slowing buy-side NDF clearing uptake
FX Markets USA: Artisan Partners’ O’Brien says problems must be tackled to make clearing more attractive
Sterling shocks have traders back on the phones
FX Markets USA: liquidity shocks herald a shift back to voice trading
Hungary makes emergency intervention to defend forint
Action comes after the central bank said it would cease rate rises
Gilt volatility to live on in IM and capital models
Even if sterling rates vol subsides, it will impact interest rate and cross-currency swap costs for years
SA-CCR hit on US banks could hinder year-end dollar funding
Potential lighter presence of US banks in swaps market may affect buy side’s ability to roll hedges
UK budget gives sterling options traders a wild ride
Reaction to tax cuts sparks most active week for GBP/USD options traders since Brexit negotiations
Euronext is latest venue to demand FX code compliance from LPs
From January 1, anonymous spot liquidity pools across the ECN will automatically switch to code compliant only
CVA exposures to UK corporates jump ‘hundreds of millions’
Dash for credit protection triggered a doom loop in the CDSs of cross-currency swap counterparties
BoJ currency intervention spurs FX options traders
Traders turn bearish on USD/JPY FX vol over further central bank intervention
Market weighs viability of spot FX clearing
Supporters believe it could remove credit risks, but others say it would be unnecessary and add costs
Goldman brings ‘self-service’ pre-trade analytics to FX options
Mobile-based tool allows users to structure and price trades dynamically using data from the cloud
SGX launches new Clob for FX spot and NDFs
CurrencyNode to tap into new matching engines in Singapore, and eventually will look to offer futures-spot spreads
GFXC set to focus on FX market data access
Costs of data needed for buy-side benchmarking exercises under spotlight
JP Morgan increases FX options dealer lead as Goldman slips
Counterparty Radar: GSAM up five manager spots amid market decline, while MSIM holds RMB positions steady
HSBC claims top FX forwards spot as US banks fall back
Counterparty Radar: Morgan Stanley falls from pole position for first time since Q2 2021 amid wider volume decline
BNY Mellon, NAB and RBC latest to ditch additional hold times
Banks join growing list of LPs to have scrapped the controversial practice
FX hedging dilemma vexes corporates as costs spiral
High volatility jacks up option prices, forcing firms to reconsider hedging activities
BofA rehires Velani to head transactional FX trading
Velani rejoins BofA as bank continues to strengthen its foreign exchange ranks
Margin costs leap on Simm rejig and rates hikes
Acadia finds roughly one-third jump in exposure following Simm recalibration, with higher funding costs adding to burden
Asia FX Awards 2022: The winners
FX Markets has revealed the winners of the Asia FX Awards 2022. The annual event – now in its fifth year – recognises and showcases the best banks, dealers, brokers and currency managers in the Asia-Pacific (Apac) region.