Foreign exchange
Trump tariffs sent FX options traders on a wild ride
As US assets sold off, dealers found themselves on the front lines of a hedging scramble
TCA vendors link FX counterparty selection with execution
Services from BestX and Tradefeedr aim to automate the pre-trade and execution process
Tariffs volatility prompts rush to re-hedge EUR/USD options books
Banks left scrambling to buy vol as spot surged beyond expectations
Dealers bullish on Bloomberg chat interface for FX markets
Service expanded its API offering to integrate broker chats into banks’ engines for cash FX pricing late last year
UniCredit tops Europe’s VAR breach leaderboard in 2024
Swedbank, Commerzbank and SocGen among model users repeatedly blindsided by volatility
Indonesian CCP seeks thumbs-up from US, UK and Japan
Growing foreign bank interest pushes IDClear to pursue regulatory approval overseas
Corporates hamstrung in response to FX volatility
Restrictions around hedging programmes leave US firms struggling to adapt to dollar weakness
NSCC liquidity shortfalls raise T+1 concerns
Lagging FX settlement processes could become a problem for clearing houses
FX traders revel in March Madness
Chaotic Trump policies finally bring diversity to flows – to the delight of market-makers
AmEx derivatives book grows on interest rate swap surge
Receive-fixed swaps dominate hedging portfolio as clearing rate spikes
Asia hours surge complicates FX options market-making
Late tariff announcements in US trigger hedging headaches during less-liquid Asia sessions
Automated market-making tested by intraday FX vol
Price gaps in spot FX markets could be exacerbated by algos trading on headline risk
Does FX Spot+ add up for traders?
New CME venue aims to provide easier access to FX futures liquidity, but some worry about its stability in choppy markets
Short-term Trump FX trades ‘dead’ as euro rallies
EUR/USD spot rally and vol spike sees mass unwinds of long USD trades
Tech firm OneChronos to offer ‘bundled’ equity-FX trading
New auction algorithms will optimise multi-leg trades; FX roll-out due in second quarter
Positive M&A outlook could boost deal contingent hedges
Traders predict hedging activity linked to deal completions will take off this year
Futures gain ground in G10 FX pricing
Some market-makers believe contracts are now primary market price for Commonwealth currencies
Citi rolls out revamped SDP in emerging markets
Unified API will boost electronic pricing and automation for restricted currencies, says bank
HSBC appoints Benihasim as global FX head
Hong Kong-based Benihasim replaces Richard Bibbey, who moved to London to run institutional sales
Development banks team up for FX hedging push
Banks such as EBRD and World Bank club together to improve emerging market funding tools
FX defs look to calculation agents for close-out rates
New Isda rule book also set to streamline ‘impossibility’ standard for disruption events