Foreign exchange
Confirmation of US Treasury FX exemption brings relief to FX dealers
After two years of consideration, the US Treasury confirmed its decision to exempt forex swaps and forwards from mandatory clearing and exchange trading on Friday evening
Foreign commodity exporters to China seek RMB settlement after US fiscal cliff fears
Foreign commodity firms operating in China are settling via RMB in order to circumvent a potential weakening of the dollar
China dominates our thinking: David Puth, CLS chief executive
Interviewed at the Sibos conference in Osaka, David Puth talks about growth plans for Asia and the risk management implications of central clearing
Banks suspend dual-currency deposits in Japan
Returns on dual-currency and structured deposits will not be covered by state insurance scheme, Japanese FSA decides
RMB/Africa currency hedging sees ‘substantial’ growth in past 12 months
Increasing levels of trade between Africa and China have driven the emergence of an increasingly active RMB derivatives market
Hong Kong insurers hedge out their US dollar exposure
Insurers in Hong Kong are revising their long-term policy of not hedging out their US dollar exposures
China to widen RMB trading band again before end-2012
A speaker at FX Week Asia argued that further liberalisation of the RMB was on the cards in the near future
Concerns raised over Basel settlement risk guidance as consultation closes
The revised guidance on managing settlement risk could distort the forex market if implemented inconsistently, but should ultimately lead to greater use of CLS, say market participants
GFI extends ForexMatch into Asian and African currencies
The interdealer broker is expanding the footprint of its forex derivatives platform by adding Asian and African currency pairs
Banks struggle to build FX as liquidity slows
Falling levels of forex activity, particularly among institutional clients, have made it difficult for banks – particularly the newer entrants – to beef up their forex businesses,
Special report: FX
Asia Risk looks at how trends in the rupee and renminbi are driving risk management in Asia
Deutsche creates cross-asset platforms business under Amrolia
Deutsche Bank's Zar Amrolia runs a new business focused on electronic platforms across fixed income, while Kevin Rodgers has stepped up to become global head of FX
Forex options traders count the cost of stressed VAR
Costing stressed VAR
RMB is gaining traction with corporates, Deutsche survey finds
Smaller companies can realise savings of nearly 5% when dealing with Chinese businesses by transacting in renminbi, says Deutsche Bank
Stressed VAR will hit forex options, dealers warn
Certain forex options and exotics penalised by Basel 2.5, including emerging market currencies and double no-touches
Hong Kong Exchange announces trading of deliverable US dollar/renminbi futures
HKEx broadens type of RMB derivatives available to the market
Countries will leave the euro by 2014, says ACI UK poll
The vast majority of respondents believe at least one country will leave the euro by 2014, but expect the single currency to survive
LCH readies launch of new NDF pairs and client clearing
Five months after launch, ForexClear is ready to start offering client clearing and to add five new currencies to the service, pending the approval of the FSA and the CFTC
Indian corporates head for forex options markets as rupee volatility continues
Indian firms move away from using forwards in a bid to grab upside benefits of future rupee appreciation
FX platform proliferation branded unsustainable
A recent flurry of FX trading platform launches will undoubtedly lead to a round of consolidation, with less successful players squeezed out of the market, argue FX Week USA speakers
Offshore renminbi bond market to take off in 2012
A maturing market combined with deregulation is sustaining demand for offshore renminbi bonds in the face of slowing RMB appreciation
Investors seek alternative forex hedges for euro crisis
Australian dollar, renminbi and CE3 currencies touted as alternative macro hedges for European debt woes
Volcker rule could hurt liquidity in FX spot market, participants warn
Foreign exchange swaps and forwards should be exempted from the Dodd-Frank ban on prop trading, or else liquidity in the spot market could suffer, industry participants say