Tag: Settlement

  • 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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  • LCH expects to boost deliverable FX clearing with new adds

    LCH expects to boost deliverable FX clearing with new adds

















































    LCH expects to boost deliverable FX clearing with new adds – FX Markets






    Onboarding of dealers and link-up with CLS could swell interbank deliverable FX clearing volumes


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    LCH ForexClear is entering the next phase of its deliverable interbank foreign exchange forwards clearing service. As some of the largest dealers prepare to join, their business could combine with an initiative to join the CLS main settlement session to significantly boost FX clearing volumes.

    Dubbed ‘FX smart clearing’ and launched in partnership with Quantile – a fellow post-trade business within the London Stock Exchange Group – the service combines compressions, overlay trades and selective

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