Tag: Pricing

  • Mastering the millisecond market – FX Markets

    Mastering the millisecond market – FX Markets


    Banks, the buy side and brokers are increasingly adopting automation from the beginning to the end of trading workflows, to optimise execution speed and efficiency. This evolution has been particularly evident in foreign exchange trading, where algorithmic decision-making has become more prevalent across desks, driven by the need to respond instantly to market data shifts.

    Foreign exchange trading workflows, in particular, have seen rapid adoption of algorithm-driven decision-making across desks

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  • Futures gain ground in G10 FX pricing

    Futures gain ground in G10 FX pricing


    A growing number of market-makers and traders say price discovery for several key G10 currencies has already shifted to CME’s foreign exchange futures markets and away from primary venues for certain pairs.

    In particular, some senior figures say futures contracts have become the primary pricing reference point for the Commonwealth currencies – Australian dollar, Canadian dollar, sterling and the New Zealand dollar – instead of the over-the-counter spot market on the London Stock Exchange Group’s

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  • Citi rolls out revamped SDP in emerging markets

    Citi rolls out revamped SDP in emerging markets


    Citi is deploying its new-look single-dealer platform (SDP) to emerging markets in a bid to offer better and faster electronic onshore pricing to users through a single gateway.

    Following the relaunch of Velocity 3.0 in 2023, the US bank has focused on consolidating its various electronic foreign exchange pricing platforms – including CitiFX Pulse, its execution and treasury management platform for corporate clients – into a single application programming interface (API).

    “A key deliverable for us

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  • Trump’s tariff threats stress London gold market

    Trump’s tariff threats stress London gold market


    The London gold market is facing a mounting structural crisis.  

    Bullion banks that lend precious metals to producers and each other moved over 200 tonnes of gold to New York in January in response to US President Donald Trump’s tariff threats, leaving the London market desperately short of physical supplies.

    Dealers in London routinely borrow gold to fund customer positions. The cost of doing so, which has historically ranged from -20 basis points to +10bp, shot up to between 300bp for short

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  • FX defs look to calculation agents for close-out rates

    FX defs look to calculation agents for close-out rates


    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 events and disrupted price sources.

    Deepak Sitlani, a partner in the derivatives and structured products group at law firm

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  • Bloomberg offers auto-RFQ chat feed – but banks want a bigger prize

    Bloomberg offers auto-RFQ chat feed – but banks want a bigger prize


    Every day, thousands of bilateral trades in cash and derivative instruments are arranged via Bloomberg instant messages on the tech firm’s ubiquitous terminals, with parties sending out requests for quotes (RFQs), haggling over prices, and exchanging market colour.

    However, the process is often cumbersome, requiring salespeople to manually cut and paste information between chat windows. This slows down pricing and results in patchy data capture.

    But moves by Bloomberg to offer automated RFQ

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  • South Korea’s FX reforms working amid political crisis, dealers say

    South Korea’s FX reforms working amid political crisis, dealers say

















































    South Korea’s FX reforms working amid political crisis, dealers say – FX Markets






    Martial law presented first test for reforms aimed at boosting deliverable KRW market


    KRW-reforms-a-success

    Foreign exchange activity in the wake of South Korea’s political crisis indicates recent reforms aimed at bringing more Korean won trading onshore and away from the offshore non-deliverable forward (NDF) market are beginning to have an effect, dealers say.

    The Korean won sunk to a succession of historic lows against the US dollar last month amid political turmoil sparked by President Yoon Suk Yeol’s surprise attempt to impose martial law. In late-hours trading on December 3, the gap between US

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