FX Markets - 6 Jan 2020
Articles in this issue
XTX: top 10 banks will move to zero hold times in 2020
Awareness and competitive pressures will compel market-makers who have held out to cut holding times
FX HedgePool: move to clearing may be irresistible
Jay Moore says balance sheet pressures will redefine buy-side credit relationships
Debelle: last look will not be banned
GFXC head says market participants have a choice of whether to use a liquidity provider that employs the practice
Citi: e-FX matching engine goes live in Singapore
The bank will expand the e-FX offering to more products after spot debut
Citadel Securities: more TCA in 2020 to expose liquidity recycling
TCA should show difference between providers who hold risk and recyclers of liquidity, says market-maker
Asifma: Asian focus on smaller counterparties for IM rules
Initial margin regime, conduct principles and China's lifting of FX restrictions are focus of Asian trade body, says Ball
Refinitiv: innovation in 2020 will be evolutionary, not revolutionary
Firms will focus on ongoing projects before embarking on market-changing initiatives
Vanguard: automation is great until it doesn’t work
Andy Maack, head of FX trading, talks about the future of trading, algos and diversity
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
Banque de France to launch CBDC experiments in 2020
De Galhau says new directorate will consider using wholesale CBDC for tokenised asset transactions
Central banks should collaborate on multicurrency CBDC – research
Lithuania’s central bank notes national CBDC projects will not solve global payment inefficiencies
Riksbank to work with Accenture on e-krona pilot
First year will see development of user interface for mobile, card and watch-based payments
LMAX: bitcoin to break $30,000 in 2020
Exchange head David Mercer foresees more transparent market, freed of “pariah” of last look
GFMA: expect new trade lifecycle technology to surface in 2020
FX industry will see more use cases for algos, AI, distributed ledger technology and order routing
G10 forecaster of 2019: Rabobank
Sterling’s future is still very dependent on Brexit-related developments, the bank says
EM forecaster of 2019: City Index
CNY could hit 7.5 in H2 2020 as trade doubts linger and time runs out for Trump