Standard Chartered has hired John Newman as global head of rates and foreign exchange trading. Newman joined the UK bank last month and is based in London, according to his LinkedIn profile. A spokesperson for Standard Chartered confirmed the appointment. Newman joins after 24 years at UBS, where he held several global trading roles. Most […]
Having a stable of high-end trading platforms can be a blessing – and a curse. And while experience and familiarity are valuable, legacy systems eventually start to creak and crawl. Around 2019, State Street realised it had a problem as it looked to build upon and expand its suite of foreign exchange and cash solutions.
When the New Taiwan dollar (TWD) surged unexpectedly on May 2 and 5, the country’s giant life insurers were immediately blamed for the move, given their huge size relative to the Taiwanese domestic market. Market participants, however, have mixed views on how active the insurers really were – but they agree the moves were exacerbated
MUFG is bolstering its FX franchise amid a rising interest rate environment that has led investors to renew their attention in the Japanese FX market. MUFG’s domestic success and growing onshore presence have strengthened the firm’s ambition to become an Asia powerhouse in FX David Wright, MUFG After decades of ultra-low interest rates, the Bank
When the economist and geopolitical strategist Brunello Rosa was finalising drafts of his book Smart Money last year, he noted presciently that critical events might unfold before its publication in paperback. The book, written with co-author Casey Larsen, envisages a new cold war unfolding between the US and China in which “digital de-dollarisation” plays a
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.
FX Markets is delighted to announce the winners of the Asia Awards 2025. The eighth edition of the FX Markets Asia Awards recognises and showcases the best banks, trading platforms and technology providers in the Asia-Pacific region (Apac). The awards recognise the firms that have proven themselves in FX trading, whether that’s as a liquidity
BestX and Tradefeedr, the two main third-party transaction cost analysis (TCA) providers, have launched tools that enable buy-side firms to standardise and automate counterparty selection for cash foreign exchange trades, ahead of request-for-quote or algorithmic execution. The launches are part of a wider push by asset managers to integrate TCA into their trading workflows to
Indonesia’s new central counterparty (CCP) for foreign exchange derivatives is to seek recognition from regulators in three overseas jurisdictions this year, amid a flurry of membership enquiries from foreign banks. “[Foreign banks] have shown their enthusiasm [and] willingness to join,” said Abdul Hadie, head of strategic planning and enterprise risk management at Indonesia Clearing and
US corporates are having a hard time responding to increased currency volatility as internal restrictions around hedging programmes make it difficult for them to react quickly to the shifting strength of the dollar. Heightened foreign exchange volatility, driven in particular by President Donald Trump’s chaotic tariff announcements, has seen the dollar weaken and made it
The move to one-day settlement for US equities, known as T+1, may be contributing to record liquidity shortfalls at the National Securities Clearing Corporation (NSCC), which clears all US-listed stock trades. NSCC, a subsidiary of the Depository Trust & Clearing Corporation (DTCC), reported a liquidity shortfall of $7.1 billion in the fourth quarter of 2024,
Dealers expect an increase in deal contingent foreign exchange hedging activity in 2025, in conjunction with heightened takeover deals from corporates and private equity firms in the latter part of the year. “We’ve certainly seen an uptick in deal contingent hedging,” says Edmund Carroll, head of FX, rates and commodities corporate client solutions at UBS.
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
Calculation agents will play a bigger role under the International Swaps and Derivatives Association’s new foreign exchange definitions, while the definition of “impossibility” in disruption events will also be updated. Isda is updating its rule book for trading FX derivatives, after the Russian invasion of Ukraine in 2022 exposed flaws around the management of disruption
Funds tap options on FX vol amid tariff disruptions – FX Markets End of drawer navigation content Skip to main content Dealers say vanillas, digitals and knockouts on realised vol increasingly used to navigate Trump news flow Hedge funds are increasingly taking out complex options structures that speculate on pricing of foreign exchange volatility levels
Corporates eye complex FX hedges as carry costs mount – FX Markets End of drawer navigation content Skip to main content Leveraged forwards and options-based structures entice treasurers facing rates uncertainty and FX volatility The shake-em-up economic policies trailed by new US president and so-called “disruptor-in-chief” Donald Trump have left corporate treasurers on both sides
LCH expects to boost deliverable FX clearing with new adds – FX Markets End of drawer navigation content Skip to main content Onboarding of dealers and link-up with CLS could swell interbank deliverable FX clearing volumes LCH ForexClear is entering the next phase of its deliverable interbank foreign exchange forwards clearing service. As some of
