When it comes to the electronification of foreign exchange swaps market, you’d forgive traders for having a fair amount of scepticism about the various venue initiatives springing up. Many have been down this road before. Dealers recognise a problem and work with new trading venue to address it, but sell-side firms are slow to connect, […]
Tokenisation can help combat inefficiencies in wholesale cross-border payments, the participants of Project Agorá said in a new report, as the Bank of Canada joined the project. The Bank for International Settlements together with seven major central banks launched the initiative in 2024. According to the report of the landmark project, published on May 27,
The London Stock Exchange Group’s (LSEG) foreign exchange trading venue, FXall, is preparing to launch a service that separates credit risk from market-making in FX forwards trades with buy-side clients. FX Markets understands the service – Split Risk – will allow buy-side users to enter outright forwards by trading a combination of spot and an FX
Deutsche Bank expects to more than double the client base for dbHedge, its foreign exchange spot algorithmic hedging suite for regional and tier-two banks, after plugging the offering into smartTrade Technologies’ LiquidityFX aggregator. The tie-up will give regional banks – which typically lack the quant teams, low-latency infrastructure and venue connectivity to run sophisticated currency
When a quartet of big markets firms were looking at bitcoin in 2022, they saw a lot to like: record highs, regular volatility, claimed diversification benefits, and massive growth potential. It came with a lot of weird baggage, though. The cryptocurrency market’s practice of settling trades instantly meant it was difficult to trade on credit
Asset managers are often not the most responsive to adjusting foreign exchange hedges when volatility and market positioning can flip on a dime. Sometimes, being partially unhedged for a portfolio of foreign assets can be as beneficial as being almost fully hedged. Fund managers with static, fixed hedging policies, may only have the chance to
CME outage sparks FX soul search – FX Markets Skip to main content End of drawer navigation content How November’s halt exposed fragile wiring of new futures-led market structure Foreign exchange futures account for roughly 2% of total spot and outright forwards volume. Yet when CME Group’s futures exchange and the EBS spot venue went
CME outage exposed FX market’s futures dependency, says SNB – FX Markets Skip to main content End of drawer navigation content Study finds EUR/USD spreads widened eightfold as non-bank PTFs blew out by nearly 30 times in November halt The November 28 failure of a Chicago data centre that knocked out CME Group’s foreign exchange
Friction-free foreign exchange is the prize offered by stablecoins such as Tether and USDC. But the prize remains elusive Source link
Helping move client money instantly and reliably across borders is a keen focus of JP Morgan’s digital investment efforts. It’s not alone in this, of course. But now, through the work of its Kinexys team – coupled with last year’s launch of its on-chain coin – the group is seeing its technology put to work
More than four years after CME announced plans to migrate its technology systems to Google Cloud, market-makers say they are still not getting the information they need to prepare for the move. The biggest question for some is whether the new matching engine will process trades deterministically, in the order they were submitted. “There’s a
FX options API trading takes off at quant hedge funds – FX Markets Skip to main content End of drawer navigation content Systematic players behind surge in direct execution, say dealers In the fast-paced world of spot foreign exchange trading, dealers send a constant stream of prices to some of the most active market participants
Dealer-backed FXSpotStream is set to move into the US Treasury market by launching a new fixed income trading platform supporting direct, streaming-based liquidity between dealers and hedge funds. The service, called RatesStream, is aiming to go live by the middle of 2026 for on-the-run US Treasuries (UST) trading with up to six liquidity providers, and
Why FX liquidity is harder to read than ever – FX Markets Skip to main content End of drawer navigation content A breakdown of FX execution methods shows how liquidity is truly formed, writes Isomiq’s Jamie Rose The BIS Triennial Survey headline for April 2025 is something that has been widely publicised and talked about:
All-to-all foreign exchange options venue SpectrAxe is preparing to expand into FX forwards, swaps and non-deliverable forwards, according to recent filings with US regulators. SpectrAxe went live with the market’s first options central limit order book (Clob) in mid-2024, allowing hedge funds to trade anonymously with other hedge funds, regional banks and market-makers via their
Hey, buy-side trader – are you active in foreign exchange? Ever been irritated by the lack of control you have when trading via one of the big FX platforms? Occasionally wonder if there’s another way? JP Morgan Asset Management has been there, too, and found a way. The firm does all of its spot, options,
Bloomberg has reported significant volume growth on its dealer-to-client foreign exchange trading platform, FXGO, in 2025 despite the introduction of a controversial new brokerage fee scheme that liquidity providers warned would see clients migrate to cheaper alternatives. In April last year, Bloomberg began charging a new base fee rate before incentives and discounts of $2.75
