When Citi’s global head of foreign exchange, Flavio Figueiredo, took on the top role in Citi’s global FX unit in the summer of 2023, priority number one was a strategic reset for the business. An internal review had identified gaps with peers in FX options and electronic trading, as well as with specific client segments […]
HSBC, Goldman prevail in shake-up of FX Markets’ Dealer Rankings – FX Markets Skip to main content End of drawer navigation content The pair thrived serving US retail funds, while Morgan Stanley retained title with life insurer clients The third edition of FX Markets’ annual exercise in identifying the top dealers in foreign exchange derivatives
Crackdown on FX vendors could raise costs for dealers – FX Markets Skip to main content End of drawer navigation content MTF designation could cost aggregators and EMSs $3m to set up and $1m in annual maintenance Vendors that must register as multilateral trading facilities (MTFs) may end up passing increased regulatory costs on to
Goldman Sachs was the top US dealer for foreign exchange trading revenues in 2024, which more than doubled at the firm thanks to increased trading activity at the end of the year, according to regulatory filings. The investment bank generated revenues of $6.3 billion for the year, up 125% from $2.8 billion in 2023, thanks
US president Donald Trump’s whipsawing tariff policies created a perfect storm for foreign exchange options dealers, as hedge funds rushed to short US dollar positions while systematic volatility sellers and large macro funds sat on the sidelines. The ensuing volatility left traders wondering if they had slipped into the wrong desks, or even another dimension.
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
South Korea’s FX reforms working amid political crisis, dealers say – FX Markets End of drawer navigation content Skip to main content Martial law presented first test for reforms aimed at boosting deliverable KRW market Foreign exchange activity in the wake of South Korea’s political crisis indicates recent reforms aimed at bringing more Korean won
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
