News
Cross-currency letters of credit gaining popularity in Asia
Divergent central bank policies see CNH LCs increasingly used to cover USD invoices
FXGO eyes platform upgrades with new fee model
Bloomberg’s brokerage charges will fund upcoming automation and TCA projects
India delays initial margin go-live date
RBI communicated putting off initial margin rules one day before planned November 8 implementation
Hedge funds take profit on vol trades with Trump win
FX volatility drops sharply as positions unwind; rates market sees mixed reaction
Shanghai Clearing House urged to take bond collateral for FX trades
Dealers complain that feeble interest rate paid on cash margin raises cost of clearing
Exotic FX derivatives bets in play as US election vol jumps
Forward volatility agreements see profits for funds; new trades include vol knockouts
BNP Paribas hires New York FXO head from Deutsche Bank
Former emerging markets FX options trader joins French bank to lead desk
New rate to give Philippine peso swaps a fillip, post-Isda add
Isda to include new PHP overnight rate and Indonesia’s Indonia in its next definitions update
Citi poaches FX options trading duo from Barclays
US bank adds to its London and Singapore FXO trading desks
CME’s FX Link sees bumper volumes as dealer use cases grow
Offsetting rates impact and FX swaps price discovery cited as new reasons to use venue
Rates movements boost FX net investment hedging
Changing differentials bring more positive carry opportunities for corporates
Popular CNY carry trade starts to lose traction
Investors seek unwinds of China govvies swapped into USD after FX and rates movements dent its appeal
Currenex loses US court bid to reveal XTX trade secrets
Judge also rules the venue must reveal its own matching code in class action case
Goldman Sachs retakes top FXO dealer spot with mutual funds in Q2
Counterparty Radar: Trades with SEI Investments boosts US bank to top spot
Dutch regulator in new push on algo manipulation
AFM teams up with Oxford Uni academics to develop data models that will identify “harmful” collusion in automated trading
BNP Paribas’ FX forwards notional jump 75% in Q2
Counterparty Radar: French bank’s increased trading with Pimco lifts it into top spot
LMAX eyes electronic FX swaps with FX HedgePool deal
Exchange group will leverage new acquisition’s tech for FX swaps Clob
UBS taps Averre for electronic FX STIR role
Former BNPP veteran will lead electronification and automation strategy for STIR trading
JPM targets tokenised FX swaps on digital assets platform
New intraday currency swaps would cut settlement risk and bring capital benefits, architects say
India’s index inclusion could herald future flow shifts
Limited boost to FX flows after Indian govvies debut on JPM index may change as others follow suit
Cable basis set to shrink as pension buyouts dwindle
BoE rate cuts and tightening US credit spreads expected to further normalise the sterling-US dollar cross-currency basis