Forex looks to flip the (stable)coin
Friction-free foreign exchange is the prize offered by stablecoins such as Tether and USDC. But the prize remains elusive Source link
North America
JP Morgan gives corporates an FX blockchain boost
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
FXSpotStream expands into US Treasuries trading
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
SpectrAxe steps into FX forwards and swaps
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
US insurers turn to short-dated FX forwards as notionals rise
US insurers turn to short-dated FX forwards as notionals rise – FX Markets Skip to main content End of drawer navigation content Counterparty Radar: Trades under three months make up nearly 60% of total positions, up from just a third in 2022 US insurers ramped up their use of short-dated FX forwards to manage currency
LSEG adds market risk optimisation for FX options
LSEG adds market risk optimisation for FX options – FX Markets Skip to main content End of drawer navigation content Tool attracts eight dealers and could be expanded to rates and equity options London Stock Exchange Group’s (LSEG) post-trade division has launched its first market risk optimisation tool, initially aimed at helping foreign exchange options
Pimco piled into euro put options in Q2
Pimco piled into euro put options in Q2 – FX Markets Skip to main content End of drawer navigation content Counterparty Radar: EUR/USD buying spree takes Pimco’s FX options book to $7 billion Pimco has typically been a light user of foreign exchange options. But as the tariff turmoil raged in Q2 this year, the
Row breaks out over cause of FX settlement fails
Row breaks out over cause of FX settlement fails – FX Markets Skip to main content End of drawer navigation content One European bank blames T+1 for a 50% jump in FX fails, but industry groups dispute the claims A surprising disagreement has broken out between a large European bank and industry groups tasked with
XTX alleges Currenex entered own trades ahead of users
XTX alleges Currenex entered own trades ahead of users – FX Markets Skip to main content End of drawer navigation content Market-maker claims venue used triangular arb tool to trade before users XTX Markets has demanded Currenex disclose details of a tool it claims allowed the venue to execute its own triangular arbitrage trades ahead
CFTC sprints to approve spot crypto trading by year-end
Spot crypto should begin trading on at least one of the designated contract markets regulated by the US Commodity Futures Trading Commission (CFTC) by year-end, according to acting chair Caroline Pham. “It’s a crypto sprint,” she said. “I’m very serious about that, so we are moving quickly.” Pham, speaking to the annual meeting of the
Real money rides the hybrid options wave
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
Fed official dismisses de-dollarisation talk
Speakers at IIF conference believe dollar selloff is cyclical rather than a structural decline Source link
The investors who aren’t fretting over Trump’s stat sulk
The investors who aren’t fretting over Trump’s stat sulk – FX Markets Skip to main content End of drawer navigation content Some see dismissal of statistics agency chief as an assault on US institutional integrity; for others it offers a chance to throw off outdated methods When the US Bureau of Labor Statistics revised down
Barclays braces for a macro storm
As developed countries continue to rack up deficits, the big question looming over markets is, who will buy the growing pile of sovereign debt? Hossein Zaimi, global head of macro at Barclays, doesn’t have the answer, but he is pretty sure the prevailing view in financial and government circles is wrong. “The sustainability of the
HSBC, Goldman prevail in shake-up of FX Markets’ Dealer Rankings
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
Taco trades or fake news fatigue
Fool me once, shame on you. Fool me twice, shame on me. It’s a maxim on many traders’ minds as they try to gauge the authenticity – or otherwise – of US president Donald Trump’s pronouncements. When news broke on July 16 that Trump had drafted a letter to remove Federal Reserve chair Jerome Powell, the
Mutual funds were USD bulls going into April’s tariff chaos
US mutual funds and exchange-traded funds went into April’s tariff turmoil holding the highest net long US dollar position in recent years. According to FX Markets’ Counterparty Radar data, mutual funds’ net long USD notional position, via foreign exchange forwards, stood at $455.7 billion by the end of the first quarter, the highest long USD position