Tag: Request-for-quote

  • Iosco pre-hedging review: more RFQs than answers

    Iosco pre-hedging review: more RFQs than answers


    Consultation papers are like tea leaves or runes: observers study them for clues to future actions or events.

    Such is the case with Iosco’s latest consultation paper on the controversial practice of pre-hedging. The document, released last November, has raised niggling concerns among market participants that the global standard-setter may be weighing tighter rules on pre-hedging, particularly for trades conducted using request-for-quotes, or RFQs.

    Dealers have warned that such restrictions could

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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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  • Iosco mimics industry codes to tackle pre-hedging dilemma

    Iosco mimics industry codes to tackle pre-hedging dilemma


    Draft recommendations proposed by international regulators to address controversy over the practice of dealers pre-hedging client orders have largely copied guidance already set out in industry codes.

    That’s good news for advocates of pre-hedging who may have feared stricter guidance, but has left its critics wanting more.

    “When it comes to the competitive request-for-quote scenario, we don’t feel that they’ve gone far enough with it,” says a regulatory expert at a non-bank market-maker, who

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