News
LCH mulls FX spot clearing as buy-side demand grows
Anticipated ForexClear service could reduce funds’ reliance on prime broker credit lines
The closer quants look, the less diversifying crypto appears
Analysis seems to confirm that the asset class is not an effective diversification play
GFMA proposes disruption settlement framework for FX
Russian ruble close-out pain triggers calls for voluntary multilateral pricing framework
Currenex pushes back in fight to dismiss class-action lawsuit
Defence lawyers mount stubborn defence in civil suit brought by XTX and two other financial firms
State Street is latest LP to publish a GFXC disclosure sheet
More liquidity providers expected to publish disclosures this week following GFXC deadline
Cboe bans FX code holdouts from Full Amount platform
Only FX Global Code signatories will be allowed to trade on the anonymous platform from August 1
Phase six margin cohort may exceed estimates as vol bites
Acadia sees numbers around a third higher than initial count, with fewer set to rely on relief
Banks look to settle non-CLS currencies on Baton
HSBC and Wells Fargo said to be eyeing expanded use of blockchain tech to currencies not covered by CLS
BNP’s FX sales head takes on new rates role
Neehal Shah will take on additional role as head of G10 rates sales following mini shake-up
UK offers six-month margin reprieve for China netting sweep
Transition period falls short of Isda’s 18-month request, Hong Kong mulls similar relief
HSBC-Finastra aim to centralise white labelling
Proponents say connecting via central hub can streamline the often-bespoke process
India onshore/offshore NDF markets tipped to converge
Local banks will increasingly take advantage of price differentials and close gaps, say market participants
Almost half of top LPs yet to publish GFXC disclosures
FX market disclosure remains patchy, fuelling buy-side concerns over transparency
Asian central banks deploy FX reserves to prop up currencies
Analysts remain confident in Asia’s financial stability, but recession risks are building
Banks prepare to unleash FX swap bots
BNP Paribas, JP Morgan build execution algos to plug into platforms – but swaps liquidity needs to catch up first
JP Morgan fined for not reporting half of FX swap trades
US bank incorrectly believed one-day swaps did not have to be reported
Dealers advancing electronic FX swaps trading on CME
Deutsche Bank is among a handful of dealers using CME’s FX Link platform to help automate market-making
XTX lawyers urge court to deny Currenex’s dismissal motion
Plaintiffs accuse platform of trying to split case across jurisdictions, which could lead to inconsistent decisions
FX HedgePool to push into spot market by year end
Buy-side P2P swaps matching engine to launch new service for WM/R benchmark
e-FX Awards 2022: The winners
BNP, Deutsche and UBS win two categories each; Citadel retains spot crown; B2C2 is top crypto LP
GFXC launches tool to spur buy-side adoption of FX code
Standard-setter aims to overcome “lukewarm” buy-side response with web-based prototype tool
Systematic hedge funds eye outsourcing to bank algos
Cost pressures push new stream of clients to pass FX algo trading to banks
European banks can’t escape SA-CCR hit, warns FX exec
Although not yet directly affected, EU dealers may feel regulation’s impact, says Goldman’s Wilkins
One by one, dealers embrace standardised FX reject codes
Investment Association’s proposed codes finally begin to take hold after Covid setbacks