Trading
JP Morgan increases FX options dealer lead as Goldman slips
Counterparty Radar: GSAM up five manager spots amid market decline, while MSIM holds RMB positions steady
BNP’s new macro trading unit to make greater use of FX algos
French bank plans to bring FX algos to US Treasuries for combined currencies and rates trading unit
HSBC claims top FX forwards spot as US banks fall back
Counterparty Radar: Morgan Stanley falls from pole position for first time since Q2 2021 amid wider volume decline
BNY Mellon, NAB and RBC latest to ditch additional hold times
Banks join growing list of LPs to have scrapped the controversial practice
FX hedging dilemma vexes corporates as costs spiral
High volatility jacks up option prices, forcing firms to reconsider hedging activities
BofA rehires Velani to head transactional FX trading
Velani rejoins BofA as bank continues to strengthen its foreign exchange ranks
Volatility could pave way for FXOs’ electronic evolution
Turmoil in markets gives options sector impetus to embrace automation, writes CME’s Chris Povey
Nomura hires Leng for dual global FX trading roles
Hire comes as Nomura looks to significantly bolster its FX and macro trading division globally
Nomura targets smaller Chinese banks after first CFETS trade
Japanese bank is one of seven offshore FX dealers offering G10 pricing on China’s interbank market
Should you hedge or should you wait?
New approach introduces quantitative framework for optimal FX hedging
Bingeing on block sets: DLT could give FX its ‘Netflix moment’
Blockchain’s proponents say faster settlement times make technology akin to TV’s streaming revolution
Streaming with the enemy: banks turn to non-bank liquidity
Larger banks are becoming more receptive to consuming FX prices from prop traders like Citadel Securities and Virtu
The closer quants look, the less diversifying crypto appears
Analysis seems to confirm that the asset class is not an effective diversification play
FX needs for Apac corporates in 2022
This white paper examines the results of a survey, conducted in association with Bloomberg, that offers insight into how corporations based in the Asia-Pacific region interact with the FX market
GFMA proposes disruption settlement framework for FX
Russian ruble close-out pain triggers calls for voluntary multilateral pricing framework
State Street is latest LP to publish a GFXC disclosure sheet
More liquidity providers expected to publish disclosures this week following GFXC deadline
Return of volatility revs up FX options market
Macro disruption hikes volatility for eager dealers, however liquidity and spread compression remain a concern
BNP’s FX sales head takes on new rates role
Neehal Shah will take on additional role as head of G10 rates sales following mini shake-up
India onshore/offshore NDF markets tipped to converge
Local banks will increasingly take advantage of price differentials and close gaps, say market participants
Banks prepare to unleash FX swap bots
BNP Paribas, JP Morgan build execution algos to plug into platforms – but swaps liquidity needs to catch up first
Dealers advancing electronic FX swaps trading on CME
Deutsche Bank is among a handful of dealers using CME’s FX Link platform to help automate market-making
FX HedgePool to push into spot market by year end
Buy-side P2P swaps matching engine to launch new service for WM/R benchmark
GFXC launches tool to spur buy-side adoption of FX code
Standard-setter aims to overcome “lukewarm” buy-side response with web-based prototype tool
Systematic hedge funds eye outsourcing to bank algos
Cost pressures push new stream of clients to pass FX algo trading to banks