The Americas
Real money investors cash in as dispersion nears record levels
Implied spreads were elevated to start 2026. Realised levels have been “almost unprecedented”
FXSpotStream expands into US Treasuries trading
Bank-owned streaming venue targets mid-year launch, offering “all you can eat” subscription fees
Non-cleared derivatives margining jumps after framework rollout
Margin-to-notional ratio trails early regulatory estimates
Deutsche Bank returns to US swaps client clearing
Re-entry comes after Basel III endgame proposals sparked capacity concerns among global clients
Collateral velocity is disappearing behind a digital curtain
Dealers may welcome digital-era rewiring to free up collateral movement, but tokenisation will obscure metrics
Trump’s LatAm gambit spurs FX hedging rush
Venezuela op boosts risk reversals as investors look to protect carry trades
US insurers turn to short-dated FX forwards as notionals rise
Counterparty Radar: Trades under three months make up nearly 60% of total positions, up from just a third in 2022
Who is Selig? CFTC pick is smart and social, but some say too green
Colleagues praise crypto smarts and collegial style, but views on prediction markets and funding trouble Senate
Equity derivatives house of the year: JP Morgan
Risk Awards 2026: Volatility strategies and technology investment help realise hyper scale-up
LSEG adds market risk optimisation for FX options
Tool attracts eight dealers and could be expanded to rates and equity options
Tomorrow’s Quants: what it takes to be a next-gen modeller
Employers increasingly prize mix of hard and soft skills, Risk.net survey reveals
Dealers prep for year-end equity financing surge
Cost of funding equity derivatives bets blew out to 227bp in 2024 and is ticking higher again
Pimco piled into euro put options in Q2
Counterparty Radar: EUR/USD buying spree takes Pimco’s FX options book to $7 billion
Banks grapple with Fed’s double deadline on stress-test plans
Supervisor consulting simultaneously on next year’s test scenario and broader model changes
Crypto ETFs gatecrash the US Treasury repo market
Counterparty Radar: Volatility Shares tapped $13 billion in repo funding in Q2
Row breaks out over cause of FX settlement fails
One European bank blames T+1 for a 50% jump in FX fails, but industry groups dispute the claims
XTX alleges Currenex entered own trades ahead of users
Market-maker claims venue used triangular arb tool to trade before users
Real money rides the hybrid options wave
Insurers follow hedge funds into exotic trades with equity-down, yields-down recession plays
Fed official dismisses de-dollarisation talk
Speakers at IIF conference believe dollar selloff is cyclical rather than a structural decline
It takes two: bilateral price streaming takes hold in govvies
Large dealers offer direct API access to government bonds as alternative to request-for-quote trading
BrokerTec Chicago goes live, targeting RV traders
New venue aims to wrestle cash leg of Treasury-futures basis trades from streaming venues