News/Foreign Exchange
Strong dollar weighing on trade, says BIS
Advanced-economy monetary policy may have made the problem worse
Citi revamps algos to improve sweep impact predictions
Bank works to make some aggressive strategies more intelligent when handling liquidity and filling orders
US-China trade war: market complacent in underpricing ‘no deal’
Options or swaps said to still be cheap to hedge if tensions persist
Spot volumes on ECNs nosedive to multi-year lows in April
Volatility reaches levels not seen since 2014
Venezuela to adopt more flexible exchange rate
Liberalisation and US sanctions on oil industry likely to boost inflation, say analysts
Carstens says EMEs right to intervene, but must be ‘rigorous’
BIS “expending a great deal of analytical effort” in understanding the issue, he says
European Ficc earnings bounce back in Q1, FX subdued
Nearly all banks saw quarterly Ficc income rise in double digits on increased client activity
Currency losses at North American corporates rise to nearly $21 billion
Currency gyrations from geopolitical events continue to create headwinds for some businesses
Electronic trading differentiates dealers competing for market share
Technology and business scope keep JP Morgan and Citi at the top, but selectivity has some dealers gaining momentum
Argentine peso plummets as political risk rises
Rising inflation and recession increase popularity of former president Cristina Kirchner
Bank of Jamaica should reduce FX ‘footprint’ – IMF
“Further rate cuts” also necessary, the fund says
Renminbi trading in London increased nearly 50% in 2018
London consolidates its place as a centre of RMB trading as the internationalisation of the Chinese currency gathers pace
HSBC brings in fintechs to strengthen its FX muscle
Bank quietly enlists fintechs to work within its fold, both to expand its capabilities and to let it focus on “superstar” technology in-house
FastMatch ECN gets new name: Euronext FX
The rebranding of the ECN aims to tap into Euronext‘s reputation to attract larger clients
Deutsche Börse in talks to buy Refinitiv FX units
Negotiations confirmed, but not whether FXall is on the sale block
Hong Kong moves carefully on swaps trading reform
Regulator SFC fears disruption to Hong Kong's position if it forces trades on venue, Isda AGM hears
China’s FX reserves hit seven-month high as capital flows back in
Reserves rise for fifth month in a row in March, as US-China trade thaw eases foreign investors’ concerns
Philippines joins regional payment settlement network
Malaysia, Indonesia and Thailand already in system that aims to spur local FX markets
Nomura slashes FX headcount in $1 billion cost-cutting drive
Impact of job losses falls mainly on the emerging markets FX team
CMC posts profit warning; Foley resigns
New Esma margin rules have “resulted in retail clients trading less”, online trading firm says
Singapore’s banks eye internal models for FX desks
New market risk regime dangles capital savings for own-models approach
FastMatch sets up matching engine in Singapore
The ECN looks to diversify its product and client base by plugging into the city-state’s FX infrastructure effort
FCA slaps permanent ban on binary options
Post-Brexit, the regulator’s ban on the sale, marketing and distribution of binary options to retail investors in the UK will replace Esma’s rules
SGX snaps up 20% stake in BidFX
Exchange invests $25m in TradingScreen spinoff, expects to boost liquidity by adding OTC to FX futures