Feature
For a few dollars more: Japan banks tackle dollar/yen basis jump
The dollar/yen cross-currency basis has widened nearly 50% in recent months due to a surge in demand from Japanese banks and regulatory constraints curbing supply from US dealers. With trading costs soaring, Japanese banks are turning to more exotic…
Grand redesign
Non-bank market-makers are increasingly being viewed as serious players as they set about building customer franchises amid a wide-scale bank pull-back
New model army
With a global code of conduct for FX due in May 2017, industry participants are pushing hard to come together to avoid hard and fast regulation. By Mikael Latreille
Farewell to self-regulation, goodbye self-policing
With a global code of conduct for FX due in May 2017, participants are only too keen to see the back of an unregulated market
A window of opportunity
With opinion split on whether last look is the defender or villain of the piece, FX participants are campaigning to raise standards and boost transparency, but some say the timeframe for action is diminishing. By Alessandro Aimone
All-to-all FX to become commonplace by 2017
The divide between historic tiers of liquidity is rapidly disappearing, shows research from financial consultancy GreySpark
FX Week Asia 2015: the pictures
More than 200 delegates attended the conference at the Westin hotel in Singapore on September 11
Banks open labs worldwide to embrace blockchain
Some of the world's largest banks are experimenting with applications for the technology
Blockchain gets Wall Street's creative juices flowing
A report estimates that banks could save up to $20 billion in costs by 2022 using blockchain
China: the long march of the renminbi
A look at the evolution of the Chinese currency from 2005 and what to expect in the future
Exotic FX option losses in 2008 still haunt market
SMEs have returned to option strategies since the financial crisis, but in a more nuanced way
Minding the liquidity gap
Last year, murmurs started amongst FX market participants that liquidity was increasingly a cause for concern. Those fears have now become a reality, and the quest to find the cause and solution for diminished execution capacity is now well and truly on
Emerging markets liquidity hit as banks pull back from risk warehousing
The difficulties of trading currency positions in G10 markets are exacerbated in EM, according to traders
Banks and clients rebuild relationships post-SNB move
Trade pricing difficulties since the Swiss National Bank's removal of the franc's currency floor are causing friction with clients
China, the new land of opportunity for retail
The country's FX retail market has grown quickly in recent years and offers unprecedented opportunities. It is also about to undergo a major shift
FEMR responses show split on last look debate
Market participants are split on how and if last look practices should be regulated
Currency manager calls for Swiss franc liquidity inquest
The collapse of foreign exchange liquidity during and after the huge Swiss franc move on January 15 caught market participants by surprise. Some are calling for an official enquiry
Challenger platforms face first real test as FX markets pick up
Numerous trading platforms have sprung up since 2011, bang in the middle of years of stagnating volumes. As volatility comes roaring back, they face a crucial year
Prime of prime providers see growth despite SNB fallout
Credit provision to smaller firms is increasingly becoming the domain of PoPs, but the focus will shift to pre-trade risk management
FX Focus - Doubts over agency desk execution grow
Banks are turning to agency desk execution to cut the cost of trading. Some market participants claim it could be the source of as much as half of all turnover in the FX market within five years. Others are more sceptical, and there are fears that a mass…
FX Focus - How to reform FX benchmarking
The long-running investigation into FX benchmarks looks to be coming to a close, with banks being hit by fines running into the hundreds of millions of dollars. Attention will now turn to the myriad possible reforms to the fixing process. Which changes…
Dollar bull run threatens corporate earnings
The days of not hedging earnings risk are over for many corporates, according to banks and treasurers, with the dollar's strength and more international trade set to be the catalyst
FX Focus - Corporates accused of pricing complacency
Corporates are in a pricing ‘nirvana’ at the moment. Hedging is cheap, transparent and easy, but how long will this last? Some treasurers have concerns over complacency towards the impact of market volatility, while regulatory reform could push up prices…
FX Focus - No corporate love for Clobs
Corporates have yet to yield to the charm of central limit order books, as regulatory pressures and pricing issues keep them tied to the request-for-quote model. Meanwhile, swap execution facility liquidity is improving, but worries over market…