United States (US)
SA-CCR proves a bitter pill for US banks to swallow
Dealers concerned new regime will punish some business lines with rise in risk-weighted assets
Public policy lines blur: implications for reserve managers
Crisis-fighting has pushed central banks into new forms of risk-taking, and this is now spilling into reserve management, says Jennifer Johnson-Calari
How low can you go: falling cost of FX fix sparks concern
Algorithms are reducing fixing fees, but some dealers are willing to go even lower – perhaps dangerously so
Joe Biden’s slow road to remaking US financial regulation
Moves on climate risk could come early; other changes may have to wait until the end of 2021, or later
Big moves, but no panic after tumultuous US election
Treasury market saw its largest post-election move since at least 2000 – but liquidity held up
FX vol markets shrug off US election fears
Vols are trading below their pre-election levels despite uncertainty over result
FX volatilities fall on receding US election fears
Polls point to a decisive Biden win – though some worry market is being complacent
Banks rent ready-made algos for FX trading
NatWest, XTX Markets and others develop new outsourcing model for tech
Filings reveal biggest FX forwards dealers
Counterparty Radar: Group of four banks executed 47% of sector’s trades during second quarter
Nomura targets US in FX rebuilding effort
Return of volatility sees Japanese bank rehire in New York and focus global business on Asian pairs and FX options
Boston Fed and MIT collaborate on digital currency research
Research results on software architecture will be released as open source
Swaps platform aims to cut out the banks – but not entirely
Peer-to-peer newcomer FX HedgePool targets asset managers’ month-end hedging activity
Lawyers divided on Johnson’s Supreme Court prospects
Ambiguity in wire fraud statutes may see court accept ex-HSBC trader’s appeal – but it’s a long shot, say attorneys
BLTs and glitchy Wi-Fi: lockdown life for FX execs
With traders transacting trillions from their living rooms, currency markets are adapting to new normal
El-Erian on Covid-19 policy risks and ‘zombie’ markets
Former Pimco chief says Fed move into high yield is a step too far, new rules needed on leverage and false liquidity, and narrow window emerges for central banks to shed some of their policy load
How carbon-cutting Drax manages currencies and credit
Interview: UK power giant uses option selling – and other tactics – to create hedging headroom
Fed extends dollar funding to more central banks
New repo facility aims to ease strains caused by global flight to the safety of dollars
Major economies already engaging in ‘currency wars’ – former IMF chief
De Larosière floats new commodity-based exchange rate regime; says “trust” is key to avoiding “beggar-thy-neighbour” policies
Westpac: Johnson’s rhetoric over EU trade hits sterling
Cable has less upside than before the “go it alone” talk resumed after Brexit
FX HedgePool goes live with three buy-side firms
Two US buy-siders trade with European firm on peer-to-peer utility created for them to source liquidity from each other
CMC: fiscal stimulus holds potential for pound upside
Amid uncertainty around Brexit clearing, upcoming UK budget may add support to UK currency
Swissquote: US-China trade war to ease in election year
Trump will enter November’s presidential election “bragging about a historic trade deal with China”
Mike Harris leaves Campbell & Company
Former FX trader exits after working at the firm for almost 20 years
Johnson moves to Floating Point Group
Former FX trader worked in e-FX liquidity distribution at Tower Research Capital earlier in his career