FX Markets

LME's successful defence of a lawsuit over cancelled nickel trades has sent clearing members scrambling to take another look at exchange and clearing house rule books

Clearing members combing rule books after LME lawsuit win - FX Markets Industry debates whether other CCPs and exchanges would cancel trades if faced with similar crisis

Dealers are streaming prices and auto-hedging at longer maturities in FX swaps, with some now offering tenors as far out as 10 years

Banks deploy automated pricing for longer-dated FX swaps - FX Markets Dealers are streaming and auto-hedging out to 10 years in some cases

BofA takes Risk's currency derivatives award as HSBC wins in prime broker category

BofA, HSBC pick up Risk.net awards - FX Markets US bank wins FX house for EM push; HSBC takes prime broker prize for rate risk margin updates

Citi’s global head of FX electronic platforms has left after more than 16 years with the US bank

Citi’s head of FX electronic platforms departs - FX Markets Ala’a Saeed, who oversaw its single-dealer platform, leaves US bank

The fragmentation of FX liquidity pools could prove overwhelming for some dealers

More, not fewer, FX platforms perplexes dealers - FX Markets Predictions of consolidation have been wide of the mark

We are delighted to announce that LMAX Group has partnered with FX Markets Asia 2024. 

Learn more about the conference and register here:
https://hubs.ly/Q02b7MmX0

Corporates are exploring new ways of hedging currency risk amid a shifting macro environment

How corporates are tooling up for FX risk - FX Markets Unstable markets have forced corporate treasurers to adopt whizzier methods for managing currency exposures

Buy-side firms appear to be adapting their FX options trading style in the face of increased volatility

To rest or aggress? Trends in FX options Clob trading - FX Markets Buy side’s ex*****on style is evolving towards passive resting orders, finds CME Group’s Chris Povey

Analysis of this year's trades on CME's FX options Clob shows buy-side users have executed over 70% of volumes via resting passive orders

To rest or aggress? Trends in FX options Clob trading - FX Markets Buy side’s ex*****on style is evolving towards passive resting orders, finds CME Group’s Chris Povey

Banxico’s Garcia on the intervention unwind and FX hedging

Banxico’s Garcia on the intervention unwind and FX hedging - FX Markets The Bank of Mexico’s operations head explains why it’s removing its forwards hedges, and how it manages carry costs

Credit Suisse’s global FX head is leaving the bank – the latest in a string of senior trading exits

Credit Suisse’s global head of FX departs - FX Markets John Estrada is the latest in a string of high-profile Credit Suisse FX traders to leave the bank

We are delighted to announce that 24 Exchange has partnered with FX Markets Asia 2024. 
Learn more about the conference and register your place here:
https://hubs.li/Q028hFpv0

360t's Swaps User Network is seeing increased interdealer trading of electronic FX swaps

Electronic FX swaps ex*****on advances on 360t - FX Markets Sun platform could help banks auto-hedge and develop algo ex*****on for the instruments

Entries are now open for FX Markets Asia Awards 2024. 

The awards recognise the best banks, dealers, brokers, currency managers, and technology providers in the Asia-Pacific region, acknowledging their outstanding achievements in the FX industry.

Don't miss your chance to submit your entries by January 19, 2024.

View the category: https://hubs.ly/Q027_nvD0
Submit your entry: https://hubs.ly/Q027_jYh0

Firms are attempting to fix years of under-investment in their FX tech

Traders, vendors seek to modernise chronically underinvested FX tech - FX Markets The average FX professional uses eight applications at any one time, but integrating workflows is a daunting task

There is excitement about the introduction of new Isins for identifying crypto assets

New crypto Isins are a ‘really important’ step for TradFi adoption - FX Markets Execs at TP Icap and Societe Generale say identifier removes major barrier for crypto acceptance

Nomura is overhauling its technology to offer more accurate – and faster – FX pricing along with a new single-dealer platform

Nomura’s tech revamp propels its global FX push - FX Markets Bank hopes overhaul of pricing tech and new single-dealer platform will boost FX business

We’re having a great time hosting this year’s FX Markets Hong Kong. A big thank you to all attendees, speakers and our sponsors CMC Connect, 24X Bermuda Limited, and Saxo Bank.

We hope to see you again at FX Markets Asia, taking place in Singapore next year on March 20-21. https://hubs.li/Q026wMNF0

FX prime brokers harnessing tech to clean up margin-intensive options portfolios and help them reallocate credit to largest clients. https://hubs.li/Q026gVDB0

We're excited to see you at FX Markets Hong Kong next Tuesday! Make sure you and your colleagues are registered - a very limited number of spots are available.

Join our panel discussion “FX technology spotlight: Trader’s dependency on technology for the future” to explore how AI and ML change the FX trading industries.

- Paul Kam, Club extension chair, Southern China, Centraler Toastmasters Club
- Mike Pun, Head of global intermediary services (GIS) APAC, HSBC
- Teong Hng, Chief executive officer & founder, Satori Research

Register now: https://hubs.li/Q0262J3N0

JP Morgan has found it can replicate an AI framework used in its FX ex*****on algos by using simpler, classical models. Read more via the link below

JP Morgan pulls plug on deep learning model for FX algos - FX Markets US bank turns to less complex models that are easier to explain to clients

There is just one week left until FX Markets Hong Kong. Join us on October 24 where our keynote speakers will discuss the impact of geopolitical conditions on the FX markets in Hong Kong, the narrative of de-dollarization and the outlook of the USD in Hong Kong, and more.

Speakers:
- Shen Li, Head of global markets China and head of indirectFX and StreetFX, State Street Bank and Trust, Asia Pacific
- George Sun, Managing director, head of global markets - Greater China, Paribas
Moderated by:
- Cici Lu, Chief executive officer, Venn Link

Register now: 
https://hubs.li/Q025y_-W0

We are delighted that CMC Connect is taking part in FX Markets Hong Kong.

Taking place on October 24 at the Ritz-Carlton, Hong Kong, the conference brings together over 100 senior FX professionals from asset and investment management firms, banks, pension funds, corporates, and regulators, to explore the pressing issues in the FX trading market.

Register now: https://hubs.li/Q025qhWN0

US insurers take different paths to hedge FX

US insurers take different paths to hedge FX - FX Markets Counterparty Radar: Maturity and size of FX forwards trades vary significantly between firms

We're delighted that Saxo Bank is taking part in FX Markets Hong Kong. ​

Join industry professionals on October 24 at the Ritz-Carlton, Hong Kong for a day packed with interactive panel discussions and insightful keynotes. Our speakers will discuss the latest developments and issues shaping the future of the FX trading market.​
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Register now: ​https://hubs.ly/Q024LtQs0

The pace of electronification in LatAm currencies is sluggish, to say the least

LatAm electronification – a market stuck in the past - FX Markets Electronic pricing and ex*****on of Latin American currencies is still lagging, say dealers

The FX industry ignores bilateral settlement risk at its peril, warns Baton Systems' Alex Knight

Don’t sweep bilateral settlement risk under the carpet - FX Markets Non-CLS-settled FX swaps still pose major risks, says Baton Systems’ Alex Knight

Isda wants a central hub to supplant more traditional methods of sending default notices

Isda proposes new central hub for critical notices - FX Markets Trade body seeks industry feedback on one-stop shop for default notices and other critical comms; sceptics say the service is “not a universal solution”

We are delighted to announce that Tristan Zhuo, Chief economist at China CITIC Bank International, will be delivering the keynote address at FX Markets Hong Kong 2023.

Join us on October 24 for some exhilarating sessions with industry leaders. Register today and view the full agenda: https://hubs.li/Q024qCFz0

Electronic pricing and ex*****on in Latin American currencies has been slow to catch on

LatAm electronification – a market stuck in the past - FX Markets Electronic pricing and ex*****on of Latin American currencies is still lagging, say dealers

StandChart reported a jump of almost two-thirds in its FX options trading book with US mutual funds in the second quarter

StanChart sees big uptick in FX options positions - FX Markets Counterparty Radar: UK bank benefits from MSIM trades as market for US mutual funds expands in Q2

In a bid to attract TradFi firms, some crypto platforms are offering FX-style venues that look and feel more like electronic communication networks

Crypto ECNs aim to offer alternative to Clobs - FX Markets CrossX and Cypator bring ECN-style trading and settlement to crypto, but rivals claim infrastructure isn’t ready

In the second quarter of this year, Pimco added $23.7 billion of FX forwards trades with BNP Paribas to its books

BNPP back in dealer top three for FX forwards with mutuals - FX Markets Deutsche Bank, HSBC hit by cuts at Vanguard and Pimco in Q2

Onshore CGBs could soon be accepted by HKEX and LCH as collateral for derivatives trades

HKEX and LCH look to expand eligible collateral - FX Markets Chinese government bonds in the frame as clearing houses seek to boost non-cash margin options

SGX's anonymous FX platform buoyed by US buy-side firms trading NDFs with local banks

SGX’s new FX platform sees increased NDF trading from US firms - FX Markets Sef exemption opens door to increased US buy-side interest

It’s officially 4 weeks until FX Markets Hong Kong. Don’t miss out on the thought-provoking event with exclusive content from insightful speakers.

Hear speakers from Mizuho, BNY Mellon, Nomura and Kingkey Financial International discuss the trends and challenges that will stick in the coming year for FX Markets.

Speakers:
- Henry Hau, Chief investment officer, Kingkey Financial International
- Ken Cheung, Chief Asia FX strategist, Mizuho Bank
- Martin Lin, Head of markets, China, BNY Mellon

Moderated by: 
- Renee Hue, Executive director, head of FX advisory, Nomura International Wealth Management

Reserve your place:
https://hubs.li/Q023d1fW0

Pimco FX forwards trades lift BNP Paribas

BNPP back in dealer top three for FX forwards with mutuals - FX Markets Deutsche Bank, HSBC hit by cuts at Vanguard and Pimco in Q2

Isda says regulators’ preference for fixed recalibration dates is behind a move to a semi-annual schedule.

Why Isda ditched ‘off-cycle’ updates for Simm - FX Markets Ad hoc updates riled industry, while regulators pushed for predictability in model recalibrations

US life insurers cut over $7bn in notional FX forwards positions during Q2.

US life insurers take axe to FX forwards positions in Q2 - Risk.net Counterparty Radar: $47.5bn in G10 positions reported, a 12.9% decline from Q1

The BIS is proposing a new type of financial market infrastructure that will combine central bank money with tokenised deposits and assets on programmable platforms

A ‘unified ledger’ and the future of money - FX Markets Blueprint set out by the BIS staff raises plenty of questions about the ‘singleness of money’