Citi was the top US dealer for foreign exchange trading revenues in 2025 on the back of increased client hedging demand, according to regulatory filings. The bank generated revenues of $7.9 billion for the year, up 50% from $5.3 billion in 2024, helped by a bumper second quarter from Donald Trump’s Liberation Day tariff announcements. […]
Over the past year, State Street has expanded its solutions delivery across several areas in response to client demand, evolving market conditions, and shifts in how institutional investors perceive and manage currency risk. The buy side drove significant change to its hedging programmes in support of new products and in reassessing the operational demands of managing
A surge in uncollateralised foreign exchange forwards hedging from buy-side clients could put bank balance sheets under pressure, dealers warn. FX hedge ratios at asset managers and pension funds have not materially increased in 2025, despite the selloff in the US dollar in the second quarter. This may change, though, as narrowing interest rate differentials could
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
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
Having a stable of high-end trading platforms can be a blessing – and a curse. And while experience and familiarity are valuable, legacy systems eventually start to creak and crawl. Around 2019, State Street realised it had a problem as it looked to build upon and expand its suite of foreign exchange and cash solutions.
Goldman Sachs was the top US dealer for foreign exchange trading revenues in 2024, which more than doubled at the firm thanks to increased trading activity at the end of the year, according to regulatory filings. The investment bank generated revenues of $6.3 billion for the year, up 125% from $2.8 billion in 2023, thanks
FX Markets is delighted to announce the winners of the Asia Awards 2025. The eighth edition of the FX Markets Asia Awards recognises and showcases the best banks, trading platforms and technology providers in the Asia-Pacific region (Apac). The awards recognise the firms that have proven themselves in FX trading, whether that’s as a liquidity
BestX and Tradefeedr, the two main third-party transaction cost analysis (TCA) providers, have launched tools that enable buy-side firms to standardise and automate counterparty selection for cash foreign exchange trades, ahead of request-for-quote or algorithmic execution. The launches are part of a wider push by asset managers to integrate TCA into their trading workflows to
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
