Trading
Forwards spreads fall but won’t hit January levels, say traders
While bid/offers have shrunk since March’s highs, dealers expect them to remain elevated
NDF access will help tame rupee volatility, say dealers
Lifting of restrictions stopping Indian banks trading rupee NDFs allows RBI to intervene offshore
FX options, NDFs trading slows as Covid fears ease
Analysis of transaction data shows lower notional volumes and tighter spreads for most currency pairs
El-Erian on Covid-19 policy risks and ‘zombie’ markets
Former Pimco chief says Fed move into high yield is a step too far, new rules needed on leverage and false liquidity, and narrow window emerges for central banks to shed some of their policy load
Applying Mifid to spot FX could backfire, warns MEP
EC would need to make "very compelling case" to draw spot market into wider regime, says Ferber
Algo choice: how to implement a market impact/volatility trade-off
Quantifying how macroeconomic announcements affect market reaction is key to deploying the right FX algo, writes Alexei Jiltsov of Tradefeedr
Singapore engine push yet to win over all LPs
JP became latest to improve local pricing capability on April 1, but other LPs are sceptical
Philippines traders shrug off mid-month jitters from Covid shutdown
March’s pricing blip was a tremble, not a quake, in a market used to disruption from natural disasters
FX vol revived by Covid-19 – but for how long?
Traders split on whether virus impact or central bank responses will prove most powerful
FX data shows hold, reject divide in G10 vs the rest
Use of analytics can help reduce last look and improve FX Code adherence, says EBS executive
In choppy FX markets, algos buck expectations
Goldman, Nomura and others report increased volumes, although some clients revert to principal quotes
Coronavirus jolts FX options market
Analysis of transaction data shows record notional volumes for some G10 pairs
Spot FX could be dragged into Mifid II
EC tells FX Markets it is studying Australian-style approach to regulating currency trading
Asia keener to adopt mobile FX trading – BidFX
Fintech firm updates mobile app to offer more features; security concerns represent major development challenges
FX HedgePool goes live with three buy-side firms
Two US buy-siders trade with European firm on peer-to-peer utility created for them to source liquidity from each other
PBoC extends market closure as coronavirus spreads rapidly
Chinese central bank extends interbank markets closure and vows to maintain ample liquidity
BNP Paribas to launch e-FX pricing engine in Singapore
BNPP is latest bank to set up Singapore pricing engine; readies Cortex Live launch with AI and data tools
Banks look to virtual data warehouses to unify trading desks
Adding a virtual layer could help take the burden off the traditional data warehouse
JP Morgan: beating lower margins, flat volumes and the competition
Foresees collaboration with clients and technology providers on FX tech infrastructure, and working with regional players
FX HedgePool: move to clearing may be irresistible
Jay Moore says balance sheet pressures will redefine buy-side credit relationships
Banks step up stress-testing of Hong Kong dollar peg risk
Flurry of FX options trades make banks re-evaluate exposures
FX market growing, but more risky – BIS review
Reduced reliance on PvP and heightened fragmentation threaten market resilience
BidFX eyes expansion in execution tools and algos
Buy-side focus on FX exposure will drive development
Call for clarity on last look rejections
Asset managers say holding periods “far in excess” of what is necessary for risk checks