Wells Fargo’s FX strategy wins over buy-side clients – FX Markets End of drawer navigation content Skip to main content Counterparty Radar: Life insurers looked west for liquidity after November’s US presidential election Wells Fargo’s decision to tilt its foreign exchange business towards institutional buy-side clients is paying off, with the San Francisco-headquartered bank seeing […]
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
European financial institutions are concerned that any renewed escalation of trade tensions with the US could spill over into actions that would limit their ability to source dollar funding. A chief risk officer (CRO) at a European wealth manager says this scenario remains “extreme”, but not impossible. “One of the scenarios I have been starting
US president Donald Trump’s whipsawing tariff policies created a perfect storm for foreign exchange options dealers, as hedge funds rushed to short US dollar positions while systematic volatility sellers and large macro funds sat on the sidelines. The ensuing volatility left traders wondering if they had slipped into the wrong desks, or even another dimension.
FX liquidity ‘worse than Covid’ amid tariff volatility, dealers say – FX Markets End of drawer navigation content Skip to main content Available liquidity for single clips dropped to as low as $20 million ahead of tariff pause Liquidity conditions in the global spot foreign exchange markets have been strained since US President Donald Trump
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
The sharp fall in the US dollar following President Donald Trump’s “liberation day” tariffs announcement saw intense activity on foreign exchange options desks, leaving dealers rushing to buy volatility to re-hedge EUR/USD books as spot surged. “It was manic… it almost made the Turkish lira [moves] irrelevant,” says one head of FX derivatives at a
Dealers bullish on Bloomberg chat interface for FX markets – FX Markets End of drawer navigation content Skip to main content Service expanded its API offering to integrate broker chats into banks’ engines for cash FX pricing late last year Bank trading desks are optimistic that initiatives by Bloomberg to open its chat application programming
US corporates are having a hard time responding to increased currency volatility as internal restrictions around hedging programmes make it difficult for them to react quickly to the shifting strength of the dollar. Heightened foreign exchange volatility, driven in particular by President Donald Trump’s chaotic tariff announcements, has seen the dollar weaken and made it
Hedge funds are turning once again to hybrid options – a standout feature of 2024’s wave of ‘Trump trades’. This time, though, firms are using the structure to express views on tariffs and the threat of recession. Investors placed high numbers of hybrid option bets on US exceptionalism in 2024, as they correctly predicted that
In the US, March Madness is synonymous with the annual knockout college basketball tournament, known for its unpredictable results and stunning turnarounds. But the country has seemingly exported this concept to its foreign policy in the past month, with shifting tariff threats, territorial disputes and abortive peace talks with Russia putting foreign exchange on the
Agency broker JB Drax Honoré has hired Kevin Connors, the former co-head of foreign exchange and emerging markets at Nomura, in a newly created senior sales role. Connors joined JB Drax this month as head of client and business development in London, according to a post on LinkedIn. He previously spent more than four years
Since the start of Donald Trump’s second US presidency, many of his tariff-related social media posts have tended to appear late New York time. This piles extra pressure on the Asia trading session when G10 currencies are less liquid and creates risk management challenges for foreign exchange options market-makers. Barry McCarthy, head of FX derivatives
Automated market-making tested by intraday FX vol – FX Markets End of drawer navigation content Skip to main content Price gaps in spot FX markets could be exacerbated by algos trading on headline risk The increase in sudden large movements in foreign exchange spot markets driven by President Donald Trump’s chaotic tariff announcements may be
The rationale behind the launch of FX Spot+ and what the market can expect from CME Group in the future Source link
The so-called Trump trade of going long the US dollar via foreign exchange options has seemingly come to a sudden stop following the euro’s massive rally last week, forcing traders to U-turn on their bets. “I think the Trump trade is now dead and all the USD calls that were bought in various forms are
A US technology vendor is aiming to offer combined trades in multiple asset classes, as part of a wider effort to push electronic trading for more complex products. OneChronos, which operates an alternative trading system (ATS) for equities, will extend its auction system to the foreign exchange spot market, enabling users to co-ordinate related transactions
