Feature
Review of 2022: the return of volatility
Russia and the Fed set markets ablaze, while SA-CCR shook up FX swaps
Renminbi and the special drawing rights
What impact does the renminbi’s increased weight and the $650 billion increase in the International Monetary Fund (IMF) special drawing rights (SDR) have for the role of the Chinese currency in reserve management?
FX primary venues seek reversal of fortunes
EBS and Refinitiv fight to restore market share – but bilateral trading may be too entrenched, dealers say
Cost benefits: Could LPA provide clearer pricing?
Proponents say analytics tool is a game changer, but critics claim it is rebranded TCA
Quants search for way to size crypto bets
Standard models say as much as 4% of a diversified portfolio could go into digital assets
How requests for quotes could amount to ‘insider information’
Lawyers say Esma’s incoming pre-hedging guidance could make firms liable for multimillion-euro fines
Bingeing on block sets: DLT could give FX its ‘Netflix moment’
Blockchain’s proponents say faster settlement times make technology akin to TV’s streaming revolution
Return of volatility revs up FX options market
Macro disruption hikes volatility for eager dealers, however liquidity and spread compression remain a concern
In a bit of a fix: Refinitiv seeks ideas to improve WM/R
Operator launches consultation following criticism of 4pm fixing rate
A SwapAgent-bilat basis? Not for now
SA-CCR may make settled-to-market capital benefits more difficult to quantify
Corporates boost FX hedges as US dollar surges
Banks see more business, but also rising exposures, from corporates’ FX decision-making
Duck! Buy side plan to dodge IM rules could backfire
Three-quarters of phase five firms do not expect to exchange margin for at least six months
Fortunes of VAR: dealers decry effect of war on risk models
European banks with large Russian derivatives exposures face risk of backtesting exceptions – and higher capital requirements
What’s up with the docs? Isda aims to set standard for crypto
Industry body looks to standardise digital derivatives documents, but some wonder if it is best placed to do so
Banks turn to analytics playbook to take on FX platforms
Dealers aim to lure clients from high-fee multi-dealer platforms with improved investment analytics
Stablecoins’ would-be lawgivers don’t know what they’re missing
Bills in US Congress focus on run risk, but more detail needed on operational challenges
Electronification allows Singapore to take on the world
SG1 data hub enables city-state to consolidate its position as key centre for trading
Market braces itself for EBS’s great migration
FX industry prepares for tectonic shift as venue moves to CME Globex
Market poised for further trading time reductions across ECNs
As Cboe FX halves trade response times, others are expected to follow – for better or worse
Can Clobs level the playing field in OTC FX options?
Electronification could be a “game changer” for smaller liquidity providers, say participants
How do you solve a problem like the lira?
Asset managers diverge in their approach to managing Turkish currency turmoil as FX hedging costs soar
Banks offer crypto clearing but, shhh, don’t tell
Top dealers clear crypto futures for select clients despite smorgasbord of risks
Hedging specialists vie for swelling FX overlay business
Custodians, banks and others look to capitalise on trend for buy side to outsource currency hedging
Quantum computing: kryptonite for bitcoin and cyber security
The race is on to secure new encryption algorithms for DeFi, before quantum computers become a present danger