Currency manager calls for Swiss franc liquidity inquest

Evaporation of liquidity on January 15 caught traders by surprise

disappearing-value-shutterstock-130573349-app
Surprise shift: many dealers were forced to make tough choices

On January 15, currency markets experienced one of their largest intra-day moves in decades. Following the Swiss National Bank's surprise decision to abandon its currency floor, the Swiss franc soared 40% against the euro and 25% against the dollar in a matter of 30 minutes, from 9:30am UK time, before giving back most of its gains.

When the dust settled, market participants were able to assess the damage: three major foreign exchange dealers – Barclays, Citi and Deutsche Bank – were sitting on

To continue reading...

You need to sign in to use this feature. If you don’t have a FX Week account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: