Tag: Asia

  • Citi rolls out revamped SDP in emerging markets

    Citi rolls out revamped SDP in emerging markets


    Citi is deploying its new-look single-dealer platform (SDP) to emerging markets in a bid to offer better and faster electronic onshore pricing to users through a single gateway.

    Following the relaunch of Velocity 3.0 in 2023, the US bank has focused on consolidating its various electronic foreign exchange pricing platforms – including CitiFX Pulse, its execution and treasury management platform for corporate clients – into a single application programming interface (API).

    “A key deliverable for us

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  • HSBC appoints Benihasim as global FX head

    HSBC appoints Benihasim as global FX head


    Volkan Benihasim has been named global head of foreign exchange, emerging markets rates and commodities at HSBC.

    Benihasim takes over from Richard Bibbey, who has relocated from Hong Kong to London to become global head of institution sales in the markets and securities services division. Benihasim was previously global head of FX cash and emerging markets rates in Hong Kong, and will remain in the city-state in his new role.

    According to an internal HSBC memo seen by FX Markets, he will look to

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  • Development banks team up for FX hedging push

    Development banks team up for FX hedging push


    A group of multilateral development banks are planning to collaborate on identifying and creating foreign exchange hedging tools to help fund projects in emerging market nations.

    The 10-strong group, which includes the World Bank, Inter-American Development Bank (IDB), and European Bank for Reconstruction and Development (EBRD), outlined plans in December to boost private capital investment in these economies by increasing the availability of local currency lending and FX hedging mechanisms.

    One

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  • Corporates turn to structured notes to juice cash returns

    Corporates turn to structured notes to juice cash returns

















































    Corporates turn to structured notes to juice cash returns – FX Markets






    Dual currency notes find favour with treasurers under pressure to boost yields amid higher rates


    Structured-products in vogue-Getty-2150404982

    Some corporate treasurers are taking advantage of more volatile foreign exchange and interest rate markets to invest their foreign cash holdings into yield-enhancing structured products, as an alternative to deposits or money market funds.

    Dealers say corporate treasurers are increasingly under pressure to improve returns on cash in the higher-rate environment, and have been turning to dual currency notes (DCNs) as a result. Rising FX volatility and wider interest rate differentials result in a

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  • South Korea’s FX reforms working amid political crisis, dealers say

    South Korea’s FX reforms working amid political crisis, dealers say

















































    South Korea’s FX reforms working amid political crisis, dealers say – FX Markets






    Martial law presented first test for reforms aimed at boosting deliverable KRW market


    KRW-reforms-a-success

    Foreign exchange activity in the wake of South Korea’s political crisis indicates recent reforms aimed at bringing more Korean won trading onshore and away from the offshore non-deliverable forward (NDF) market are beginning to have an effect, dealers say.

    The Korean won sunk to a succession of historic lows against the US dollar last month amid political turmoil sparked by President Yoon Suk Yeol’s surprise attempt to impose martial law. In late-hours trading on December 3, the gap between US

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