Buy side
Reporting overhaul: the EU’s near-impossible balancing act
Regulators must weigh their desire to streamline derivatives reporting against the need to gather crucial trade data
How Amundi’s options strategy profited from dollar slump
French asset manager grabbed euro call options at low prices in tactical pivot for its FX absolute return fund
Sharper economic picture sets scene for dollar swaps rebound
Razor-thin bid/offer spreads and slim post-April trading volumes give way to an uptick in August
Court ruling challenges ‘fiduciary’ role for pre-hedging
Lawyers suggest overturning of Mark Johnson’s conviction questions dealer-client fiduciary relationship
Crypto’s predictable path from central books to OTC discretion
Demand for bilateral trading as seen in FX is fuelling crypto’s institutional take-up, finds BridgePort
FICC’s new clearing model sparks praise – and intrigue
Some think collateral-in-lieu concept could be applied to a wider range of trades, beyond MMF repos
Cuts and points – how the Dealer Rankings work
Dealer Rankings 2025: We have a simple way to compare dealers. Sort of simple, anyway
Choosy dealers search for their sweet spot
Dealer Rankings 2025: No bank appears in every top 10 list, as data reveals shifting strengths
OTC books grew in 2024 but remain below peaks
Dealer Rankings 2025: US fund and insurer books were larger in 11 of 16 markets
Opportunity knocks as big US dealers step back
Dealer Rankings 2025: Third annual exercise shows top US dealers are less dominant, allowing Barclays and others to strengthen
Goldman Sachs tops third edition of Dealer Rankings
Dealer Rankings 2025: Citi slides, Europeans climb in annual analysis of US fund and insurer trades
Crackdown on FX vendors could raise costs for dealers
MTF designation could cost aggregators and EMSs $3m to set up and $1m in annual maintenance
Collateral cushions swell as US hedge fund borrowing tops $5.6trn
Top 10 funds’ borrowing becomes 3.7% over-collateralised amid record Q1 leverage
Tidal rides retail boom to lead in single-stock options
Counterparty Radar: Volatility-selling ETF firm accounts for half of trading among US funds
Mutual funds were USD bulls going into April’s tariff chaos
Counterparty Radar: Positioning in Q1 reflected market sentiment that tariffs would lead to a dollar rally
Investors hope US rate cuts will lower FX hedging costs
European investors in US assets set to boost hedge ratios as implied yields rise
Jive Investments quicksteps towards hedged returns
Brazilian fund manager uses combo of options and forwards to push down hedging costs compared with plain NDF strategy
LMAX: stablecoin bill sets stage for FX and crypto convergence
David Mercer on what the Genius Act means for markets, and where the venue’s FX business goes next
Non-cash collateral jump spurs tri-party VM expansion
BNY, Euroclear and JPM extend collateral platforms to variation margin as bonds and equities gain traction
Numerix strikes Hundsun deal as China pushes domestic tech
Homegrown tech initiative – ‘Xinchuang’ – a new challenge for foreign vendors
For variation margin payments, cash is no longer king
Dealers are being pressed to accept corporate bonds and even equities as collateral for non-cleared trades
Amundi’s in-house expert keeping watch on Putin, Trump and Xi
Geopolitics expert Anna Rosenberg believes data and probability are key to forecasting market-moving events
Eyes on automation as FX options volumes surge
Dealers and trading platforms are making gradual progress to electronify foreign exchange options pricing and workflows
What drove the Taiwan dollar surge?
Foreign speculators, carry unwinds and central bank inaction fuelled the 10% move, not just life insurers, say traders