Derivatives
China derivatives appetite set to grow as PBoC lifts deposit rule
Central bank rule change could cut hedging costs by up to 100bp, traders say
UK’s FCA bans crypto derivatives for retail investors
FCA says retail crypto assets have no reliable valuation basis and could increase financial crime
Ex-Isda risk chief: ditch gross notional thresholds for clearing
10 years on, David Murphy says mandate should be rebased to exempt less risky firms
Euronext launches NDF trading in Singapore
Platform’s move brings spot-style execution methods to the non-deliverable market
How Shell integrated FX algos into its corporate treasury mix
Interview: oil giant puts up to 50% of spot flows through algos, explains FX head Michael Dawson
The FX swaps client clearing comeback
With possible price savings and non-bank competition, chatter about the service is picking up again – but significant hurdles remain
Buy side hopes for best execution reporting carve-out
After EC exempts venues from best execution reporting, Aima argues funds' RTS 28 reports should follow
LCH to launch non-deliverable options clearing
Clearing service will go live in Q4 for nine currency pairs
FX swaps clearing redux
SA-CCR could unleash the potential of clearing, and may ignite some big changes
SA-CCR adoption may spur wider FX swaps clearing
With up to 90% lower exposures on offer, dealers say capital benefits could outweigh margin costs
Turkey turmoil opens door to offshore NDF market
Emta openly discussing documentation for offshore lira
Investors trade the drama out of the crisis
How LGIM, AXA, Manulife and other buy-siders tackled the toughest markets since 2008
NDF access will help tame rupee volatility, say dealers
Lifting of restrictions stopping Indian banks trading rupee NDFs allows RBI to intervene offshore
Banks trade first USD/CNY cross-currency swap versus SOFR
Risk-free rate sets new milestone with Crédit Agricole and Bank of China’s $10m trade
Delay to IM calculation window leaves some exasperated
“Hasty” decision by global rule-makers frustrates firms that had already started initial margin prep
FX vol revived by Covid-19 – but for how long?
Traders split on whether virus impact or central bank responses will prove most powerful
ESG-linked hedges raise interest – and questions
Carrot-and-stick trades pay off if green targets are hit, but setting and monitoring those goals is tricky
Seeing red over blue-chip swap in Argentina’s NDF fiasco
Emta protocol salve aside, peso settlement rate snafu is a warning for emerging market FX derivatives
Swaps data: cleared volumes drop for all markets – except FX
Smaller CCPs make market share gains in a quarter of double-digit declines for rates and credit
India exchange to debut rupee derivatives settled in US dollar
Launch of onshore futures and options unlikely to dent offshore volumes, though
FX options see record volumes as yen goes off-script
Coronavirus outbreak and recession fears trigger frenzied trading in USD/JPY options
Morgan Stanley FX loss leaves ill-feeling, questions in wake
Options traders saw odd quotes by US bank months before losses were publicised
First Ibor versus SOFR cross-currency swaps trades
Westpac and Citi strike BBSW/SOFR trade in landmark moment for Australian market
First cross-currency swap cleared at Eurex
Morgan Stanley and JP Morgan first to use service and two more banks are onboarding as CCP hopes to extend offering to clients in 2020