The popularity of hybrid options is expanding beyond hedge funds, with a growing number of asset managers, pension funds and insurers taking advantage of dislocated correlations between asset classes for yield enhancement and cheap long-term hedging. “The biggest chunk has been with hedge funds, but some of the largest trades have been done with asset […]
Hugh Stevens has joined Wells Fargo as head of electronic foreign exchange trading for Europe, the Middle East and Africa (Emea). Stevens previously spent over seven years at Standard Chartered in London and New York, most recently as head of e-FX trading for the Americas. He reports to Chad Berner, head of electronic and G1O
As hedge funds have ballooned in recent years, so has their footprint in the few markets large enough to accommodate them. This isn’t a problem when their trades are going well. When those trades backfire, though, it can be a different story – particularly if multiple funds are holding the same position and all try
Integral launches on-chain crypto prime brokerage service – FX Markets Skip to main content End of drawer navigation content The model leverages stablecoins to exchange margin and settle trades on blockchain Foreign exchange trading technology provider Integral has launched an institutional cryptocurrency prime brokerage service, which will allow margin and settlement between counterparties to be
It’s 2025 and you attend another foreign exchange industry conference where, unsurprisingly, the hot topics remain familiar: data-driven FX, streaming swaps, workflow automation, the ‘electronification’ of liquidity, debates on what AI means for our jobs, algo evaluation, and fully automated trade workflows. You return to the office, only to have a conversation with a bank
Within ING’s foreign exchange business, a special algorithm has the job of looking out for signals that might indicate an abrupt, unexpected shift in the market, and adjusting the bank’s prices accordingly. On July 16, that algo had to earn its corn: reports spread that US president Donald Trump was planning to fire the chair
It’s a known but unproven assumption that predatory trading during the 4pm London time fixing window for benchmark currency rates – mostly from high-speed hedge funds and prop desks – can lead to worse prices for clients. What’s less clear is what to do about it. A new paper, jointly authored by Deutsche Bank’s Roel Oomen
CME boosts FX access via new vendor partnerships – FX Markets Skip to main content End of drawer navigation content Tie-ups with Trading Technologies and Integral to bring new liquidity into EBS and Spot+ venues CME Group is establishing ties with key vendors to expand the distribution of primary market foreign exchange liquidity from EBS
In the first half of 2025, the combination of US tariff announcements and fiscal and monetary policy uncertainty led to volatility in foreign exchange markets not seen since early 2020. During this period, FX central limit order books (Clobs) proved vital to traders for managing their risk, providing market transparency, deep liquidity and execution reliability,
BNP Paribas is planning to selectively expand its white-labelling programme to give more regional banks and their clients access to its spot foreign exchange execution algorithms. Earlier this month, BNP Paribas struck its first algo white label partnership with Lloyds, whereby corporate and financial institution clients of the UK bank can now use its three
Dealers are seeing renewed hedge fund interest in the Hong Kong dollar carry trade due to the wide gap between Hong Kong and US rates, after many were stopped out on similar trades in early May. “Hedge funds [and] fast money [accounts], which reduced some of their long USDHKD position in early May during the
Fnality joins DLT-based PvP FX settlement service – FX Markets End of drawer navigation content Skip to main content Baton Systems and Osttra’s joint payment-versus-payment FX network adds central bank-backed settlement option Baton Systems and post-trade technology vendor Osttra have struck a partnership with Fnality to integrate its blockchain-based payments system to its payment-versus-payment (PvP)
It takes a market-wide crisis to know how stable the underlying pipework is that supports it. In the $7.5 trillion foreign exchange market, the measure of its stability is liquidity. This was put to the test last month, as intraday volatility triggered by president Donald Trump’s tariff announcements on April 2 resulted in an explosion
Listed FX volumes continue to set records on SGX FX’s flagship contracts as market participants seek secure and cost-efficient sources of liquidity in an increasingly uncertain trading environment KC Lam, SGX FX Trading on SGX FX went from strength to strength in 2024 as market turmoil took hold of the markets on the back of diverging interest rate
Artificial intelligence has increasingly become an all-encompassing term in financial circles. But in foreign exchange trading, what does it actually mean? Banks have been vocal about how they have used AI for years when developing their execution algorithms, making documentation easier, and in their client chatbots. But from a trading perspective, arguably the more impactful
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
European financial institutions are concerned that any renewed escalation of trade tensions with the US could spill over into actions that would limit their ability to source dollar funding. A chief risk officer (CRO) at a European wealth manager says this scenario remains “extreme”, but not impossible. “One of the scenarios I have been starting
