JP Morgan
Citi extends lead in FX forwards, BNP Paribas climbs
Counterparty Radar: Total value of forwards positions jumps 11% after second-quarter dip
FX Markets Best Banks Awards 2020: The winners
Citi takes 12 categories, including best bank for FX; HSBC follows with six wins
Cross-currency swaps will use RFRs on both legs, says JPM exec
Despite slow start, all-RFR swaps will become the market standard within a year, according to Tom Prickett
On dealer and currency choices, big US funds differ
Pimco, Vanguard and other fund giants account for up to 60% of forwards trades – but have very different hedging needs and dealer panels
Filings reveal biggest FX forwards dealers
Counterparty Radar: Group of four banks executed 47% of sector’s trades during second quarter
Facebook’s libra could disrupt collateral markets – IMF paper
Collateral used to back ‘stablecoins’ such as libra will be unavailable for reuse
Singapore engine push yet to win over all LPs
JP became latest to improve local pricing capability on April 1, but other LPs are sceptical
Rival FX class claimants urge court to resolve dispute early
Judge says he won’t favour haste over quality and will consider claimants’ funding arrangements as well as the merits of competing cases
Four more banks join CLSNet
Bilateral payments netting service using distributed ledger tech now has nine firms live
Morgan Stanley more than doubles Q4 Ficc revenues
All US banks see Ficc revenues improve substantially in Q4 versus a year ago
Colombia culls external reserve manager to boost competition
From 2016–18, the central bank reduced the number of institutions from seven to six
Rival FX class action suit complicates cartel rigging claims
Only one can prevail, says judge of O’Higgins and Evans suits
BNP Paribas to launch e-FX pricing engine in Singapore
BNPP is latest bank to set up Singapore pricing engine; readies Cortex Live launch with AI and data tools
Banks look to virtual data warehouses to unify trading desks
Adding a virtual layer could help take the burden off the traditional data warehouse
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
FX sales specialist Cifuentes joins BitGo
Formerly at Cboe Global Markets, Andres Cifuentes also worked in prime brokerage at JP Morgan and Morgan Stanley
Price changes expected as uncleared margin rules bite
Panellists urge buy side to install lifecycle management tools to calculate margin and reconcile payments with brokers
JP Morgan trader Aiyer guilty of price-fixing conspiracy
Akshay Aiyer is second currency trader to be convicted in US’s ongoing probe into FX market
Winners of the FX Week 2019 Best Banks Awards
The awards acknowledge excellence in foreign exchange
Best Bank Awards: JP Morgan
JP Morgan holds on to title of Best bank overall for FX at the 2019 FX Week Best Bank Awards
Chatroom dealings can benefit trading – Aiyer case expert witness
Academic finds 162 examples of traders matching each other in rand chatroom, generating savings of several thousand dollars per trade
BNPP appraisal challenges Katz’s credibility
Former trader’s supervisor highlighted poor performance on FX swaps and bad risk management in 2011 review
Katz pushed complicated trades off on Aiyer
Former Barclays trader lost large trade when defendant delayed pricing it for him
Baggioli appointed COO at M-DAQ Group
Former global head of FX prime brokerage at BNP Paribas has been promoted