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FX liquidity ‘worse than Covid’ amid tariff volatility, dealers say – FX Markets End of drawer navigation content Skip to main content Available liquidity for single clips dropped to as low as $20 million ahead of tariff pause Liquidity conditions in the global spot foreign exchange markets have been strained since US President Donald Trump
The sharp fall in the US dollar following President Donald Trump’s “liberation day” tariffs announcement saw intense activity on foreign exchange options desks, leaving dealers rushing to buy volatility to re-hedge EUR/USD books as spot surged. “It was manic… it almost made the Turkish lira [moves] irrelevant,” says one head of FX derivatives at a
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,
Since the start of Donald Trump’s second US presidency, many of his tariff-related social media posts have tended to appear late New York time. This piles extra pressure on the Asia trading session when G10 currencies are less liquid and creates risk management challenges for foreign exchange options market-makers. Barry McCarthy, head of FX derivatives
Automated market-making tested by intraday FX vol – FX Markets End of drawer navigation content Skip to main content Price gaps in spot FX markets could be exacerbated by algos trading on headline risk The increase in sudden large movements in foreign exchange spot markets driven by President Donald Trump’s chaotic tariff announcements may be
The rationale behind the launch of FX Spot+ and what the market can expect from CME Group in the future Source link
Non-bank market-maker XTX Markets has hired Sam Brook for its European foreign exchange and equities trading team. Brook joins from NatWest Markets, where he spent nine years in the UK bank’s electronic FX trading unit, primarily working on the buildout of its e-FX market-making desk. As part of the Europe, Middle East and Africa distribution
Deutsche Bank has appointed Richard James from JP Morgan to run its foreign exchange single-dealer platform, AutobahnFX. James will be responsible for the growth and distribution of the bank’s electronic FX client offering for cash and derivatives, as well as algorithmic execution on the platform. He will be based in London and report to Ollie
In a challenging environment, demand for J.P. Morgan’s FX overlay market services has risen significantly as market participants seek to navigate the hedging and execution complexities of the FX market The awards Best FX overlay manager Best liquidity provider for FX spot Best liquidity provider for FX options Best liquidity provider for financial institutions Best single-dealer
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
Can you rent a liquidity provider? And not just any liquidity provider, but one like JP Morgan or Deutsche Bank, to gain access to their huge client franchises? This idea was raised during the FX Markets Europe conference in London on December 3 (if you weren’t there, you missed an excellent event). In outline, the
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
