Foreign exchange
Saxo Bank: sterling would reach parity with dollar under Corbyn as UK’s PM
Campaign of renationalisation and fiscal expansion would widen the twin deficits to 5% of GDP and spur inflation
CNH contracts on SGX break daily record in November
November was third-highest trading month for USD/CNH since contract began trading on the exchange
2018: mergers, name changes and having one’s day in court
Mergers and acquisitions were popular reads on FX Week in 2018, along with coverage of US FX-related court cases
Advanced Markets adds Standard Chartered as prime broker
UK bank becomes Advanced Markets’ second prime broker after UBS
Record brings ESG into currency management
Specialist currency manager develops database and methods for improving ESG credentials of its product
European FX lawsuit may follow soon, says source
Institutional investors filed a lawsuit in NY against 16 banks on November 7, which could be followed by European complaint
Outstanding OTC FX derivatives notional at all-time high – BIS
Clearing of FX contracts and gross market value of over-the-counter FX rises in H1 2018
Advanced Markets launches London operation
Nina Baksh will lead the London office for the FCA-regulated firm
NatWest Markets’ FXmicropay takes to SAP cloud
It automates currency conversion and guarantees exchange rates
Barclays gives Specs to FX participants
The client portal originally launched for equities in 2015 is now available for foreign exchange
Marex Spectron re-enters FX with new platform
After a four-year hiatus, the broker rolls out offering geared at smaller players that large banks find relatively unattractive
European corporate FX losses triple
Currency losses at their highest since the first quarter of 2017, reports FiREapps
Dealers slam ‘nonsensical’ treatment of FX derivatives
Proposal on US swap dealer threshold rekindles debate on definition of NDFs and window forwards
Venue competition heats up as e-FX volumes plateau, says Greenwich
Following 74% growth in electronically executed FX in 2007-14, volumes flattened for four years
NYDFS fines Deutsche Bank $205m for FX
Fines relate to practices between 2007 and 2013, when Deutsche was the world’s largest dealer by market share
Northern Trust partners Lumint for FX solutions
The partnership supports further innovations in hedging programme management and analytics