FX Markets - Jan 2024
Articles in this issue
Uncertain rates outlook poses challenge for corporate FX hedgers
Hedging programmes may need a revamp as EM/G10 rates differentials narrow
Banks scrutinised for offloading deal contingent risks on to funds
Critics say practice could lead to disclosure of sensitive client data
Banks rush to register as Korean onshore FX market opens up
Central bank eases licensing requirements as institutions look to capitalise on deliverable trades
LMAX taps real money clients with Cürex deal
Acquisition aims to offer liquidity providers diverse flows from asset managers
Deutsche Bank’s global spot trading head departs
Lee Merchant is latest in a string of senior FX departures for German dealer
LoopFX nears launch with Factset’s Portware partnership
New dark pool matching platform aims to integrate with existing buy-side workflows
Bloomberg’s Figi extends crypto inroads
Identifiers rolled out for almost 8,000 crypto assets as institutions seek structure and uniformity
Corporates eye FX options as hedging costs shrink
With hedge ratios tipped to rise, dealers say treasurers are increasingly open to optionality
Regulators’ FRTB estimates based on faulty premise – industry study
US market risk capital requirements could more than double if banks abandon IMA
IMC appoints head of FX trading
Ex-UBS exotics head Ramon Puyane to join Dutch market-maker
Citi and JP Morgan vie to extend collateral optimisation to CCPs
High rates and increasing collateral requirements have ignited race for greater efficiency
New trading platform costs weigh on FX dealers
As roughly 75 platforms vie for business, LPs complain of struggle to keep up with connectivity costs
Citi appoints new global head of FX product amid MD cuts
Ayesa Latif will oversee end-to-end delivery of FX products and services, as well as its electronic FX distribution platforms
Clearing members fear CFTC bending rules for crypto
Critics warn new framework for Bitnomial and LedgerX could undermine clearing integrity
Bloating CCP default funds. New margin models. Are the two linked?
Dealers grumble that greater guaranty fund payments could undermine the ‘defaulter pays’ principle of clearing
US mutual funds’ passion for LatAm options undimmed in Q3
Counterparty Radar: Carry trade opportunities see managers’ positions increase tenfold in 2023
Measuring expected cost models on large FX trades
BestX study assesses factors influencing algo performance on trades over $100m in size
Levelling the playing field for stablecoins
Regulatory asymmetries are a barrier to innovation in digital payments