Tag: Asset managers

  • European investors ramp up FX hedging as ‘dollar smile’ fades

    European investors ramp up FX hedging as ‘dollar smile’ fades


    European asset managers and pension funds are adding more currency hedges to their US equity portfolios following a breakdown of the so-called ‘dollar smile’.

    The greenback typically appreciates when US stocks are booming or under extreme stress. For foreign investors, the phenomenon – known as the dollar smile – offers a natural hedge against sharp sell-offs in US holdings.

    The tariffs unveiled by US president Donald Trump on April 2 turned the relationship on its head. The S&P 500 shed 5%

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  • Wells Fargo’s FX strategy wins over buy-side clients

    Wells Fargo’s FX strategy wins over buy-side clients
















































    Wells Fargo’s FX strategy wins over buy-side clients – FX Markets






    Counterparty Radar: Life insurers looked west for liquidity after November’s US presidential election


    Wells Fargo

    Wells Fargo’s decision to tilt its foreign exchange business towards institutional buy-side clients is paying off, with the San Francisco-headquartered bank seeing a big jump in trades with insurers in the fourth quarter to supplement its multi-year growth with mutual funds.

    Data from Risk.net’s Counterparty Radar service shows Well Fargo’s FX forwards notional volumes with life insurers increased by 56.4% to $4.75 billion, making it the fourth-largest dealer in that product with this client

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  • Futures gain ground in G10 FX pricing

    Futures gain ground in G10 FX pricing


    A growing number of market-makers and traders say price discovery for several key G10 currencies has already shifted to CME’s foreign exchange futures markets and away from primary venues for certain pairs.

    In particular, some senior figures say futures contracts have become the primary pricing reference point for the Commonwealth currencies – Australian dollar, Canadian dollar, sterling and the New Zealand dollar – instead of the over-the-counter spot market on the London Stock Exchange Group’s

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  • 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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  • TD, Goldman make strides with Ucits in FX forwards trades

    TD, Goldman make strides with Ucits in FX forwards trades


    TD Securities and Goldman Sachs made the largest ranking moves among dealers serving the FX forwards market for European retail funds during the first half of last year.

    The Canadian bank gained $14.4 billion in notional from trades with Ucits funds, increasing its market share to 9.5% from 7% and becoming the second-largest dealer in the space.

    Goldman Sachs followed close behind, adding $13.2 billion to its book, which doubled in size to 5% of the total. The growth propelled the US giant to the

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  • LCH expects to boost deliverable FX clearing with new adds

    LCH expects to boost deliverable FX clearing with new adds

















































    LCH expects to boost deliverable FX clearing with new adds – FX Markets






    Onboarding of dealers and link-up with CLS could swell interbank deliverable FX clearing volumes


    LSEG-HQ-AlamyD6JDTK

    LCH ForexClear is entering the next phase of its deliverable interbank foreign exchange forwards clearing service. As some of the largest dealers prepare to join, their business could combine with an initiative to join the CLS main settlement session to significantly boost FX clearing volumes.

    Dubbed ‘FX smart clearing’ and launched in partnership with Quantile – a fellow post-trade business within the London Stock Exchange Group – the service combines compressions, overlay trades and selective

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  • Franklin Templeton dethrones MSIM as top FX options user

    Franklin Templeton dethrones MSIM as top FX options user


    Franklin Templeton has become the largest user of foreign exchange options among US mutual funds, taking the top spot from Morgan Stanley Investment Management for the first time since the end of 2020.

    The California-based fund manager increased notional volumes by around $340 million during the third quarter of 2024, taking the total size of its FX options book to nearly $5.9 billion.

    Meanwhile, MSIM continued to cut the size of its renminbi-denominated positions, this time by just over $700

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