News/Risk Management
Four more banks join CLSNet
Bilateral payments netting service using distributed ledger tech now has nine firms live
Refinitiv pledges FX brokerage to Australian bushfire relief
The area already burned is triple the size of the land destroyed by the 2018 California fires
Morgan Stanley more than doubles Q4 Ficc revenues
All US banks see Ficc revenues improve substantially in Q4 versus a year ago
Colombia culls external reserve manager to boost competition
From 2016–18, the central bank reduced the number of institutions from seven to six
Cboe plans comeback in crypto markets
US exchange plans to offer crypto derivatives after previous attempts at regulatory approval to list crypto ETFs thwarted
Rival FX class action suit complicates cartel rigging claims
Only one can prevail, says judge of O’Higgins and Evans suits
Banks step up stress-testing of Hong Kong dollar peg risk
Flurry of FX options trades make banks re-evaluate exposures
Volatility becalmed, trade in FX options plummets
With central banks in tandem on policy, market churn lessens considerably
First all-RFR cross-currency swap traded
Goldman Sachs and Morgan Stanley strike landmark €STR v SOFR trade
FX cartel UK class action case receives nod to proceed
UK judge sets timetable of hearings to be heard
Deal misfires expose risk of contingent hedging
Banks hike premiums on deal contingent swaps amid Brexit uncertainty
StanChart prime services to accept Chinese bonds as collateral
Inclusion will reduce collateral drag for PB clients ahead of stricter initial margin rules
Insight Investment wary of banks’ last-look claims
Buy side should “team up” in bid for more forex transparency, argues senior trader
BoE’s Hauser urges firms to adapt to FX market fragmentation
Less sophisticated firms are paying much higher spreads, executive director says
Eurex to launch cross-currency swap clearing ‘within weeks’
Clearing service will target dealer-to-dealer trades before later rolling out to clients
FX class action could run into billions – UK class representative
Given London’s share of the FX market, the damages sought could be greater than those received in the US
Carney warns Germany and France of Brexit derivatives cliff edge
Bank of England governor says it is in “interest” of EU countries to ensure full viability of financial contacts ahead of Brexit
Standard Chartered fares best in mixed Q2 European Ficc results
Client activity remains muted as low volatility and geopolitical uncertainties weigh on sentiment
How the top 50 liquidity providers tackle last look
Uneven disclosure practices are making life difficult for agency algos and ECN trading
Six big FX market-makers call for end to last look
Citadel Securities, Jump and Virtu among those repudiating controversial practice
FX last look: how non-banks stack up
Research shows patchy disclosures plus differences from banks on pre-hedging and rejected orders