Foreign exchange
Volatility drops as BoJ intervention proves successful
But market may begin testing the Bank of Japan's resolve if more measures are not taken
China fast-tracks Hong Kong as offshore renminbi centre
Lighting the way
Chinese banks push non-resident accounts in reaction to HK remninbi challenge
Move by financial institutions on the mainland may blunt efforts by Hong Kong banks to establish the special administrative region as a pre-eminent centre for offshore renminbi trading
CFTC retail FX rules fail to curb offshore trading
New US Commodity and Futures Trading Commission rules will hasten flow of retail foreign exchange business abroad
Retail brokers win US leverage battle
The US CFTC leverage rules on retail foreign exchange transactions less harsh
Barnes bows out of RBS
Royal Bank of Scotland suffers two senior departures in its foreign exchange business
HSBC on global hiring spree
HSBC has made a series of hires across foreign exchange trading and sales in Asia and Europe, it confirmed today (August 17).
Asia Risk 15: Corporates more savvy users of derivatives after learning important lessons
Asian companies have recorded phenomenal performance during the past 15 years – a growth story that is all the more remarkable given the series of market shocks and crises that have afflicted corporates and their dealers in that time. Joti Mangat reports
Asia Risk 15: Interdealer brokers in quest for deeper liquidity
Interdealer brokers have continued to build ever-deeper pools of liquidity in Asian markets as they have forged profitable businesses from Asia’s fragmented economies. While moves to electronic platforms are gaining momentum, relationships are still…
Asia Risk 15: Exchanges have profited from derivatives but face new threats
Asian exchanges have undergone a radical transformation during the past decade as systems were overhauled, new derivatives instruments traded and new ventures formed. Yet perhaps their biggest challenge awaits them. Jill Wong reports
Saying no to algos
A number of banks have launched algorithmic trading systems for foreign exchange, intended to provide more efficient execution for clients. But some question whether algorithmic models are actually needed in the highly liquid foreign exchange market. By…
Citi hires Margolis from Goldman Sachs
Latest hire in a series of senior appointments to the firm's FX business
Estonia upgraded on euro accession; Ireland knocked down on banks’ weakness
Fitch lifts Estonian credit rating two notches, citing benefits of eurozone membership and strong fiscal performance; Moody’s downgrades Ireland on poor growth projections, worries over bad bank
Enforce clearing, catapult FX into the big league, say FX Week USA panellists
Foreign exchange is held back from fulfilling its potential as an asset class because of counterparty risk issues, said panellists.
RBC: Japanese limits on margin trading will weigh on Aussie/yen cross in August
Japanese plans to limit leverage on margin trading to a maximum of 50 times collateral in August could affect Australian dollar/yen cross rates.
Insurers reappraise forex risk
Increasing currency volatility has prompted a reappraisal of insurers’ foreign exchange hedging approach – a phenomenon that will be accelerated, particularly in the Nordic regions, with the advent of Solvency II. Laurie Carver reports
Governors gloomy on outlook for pan-African currency
South African, Nigerian and Ghanaian central bank governors say path to regional and continent-wide single currency littered with obstacles; single currency will not correct underlying problems
Dodd-Frank: forex swap clearing exemption at Treasury secretary’s discretion
Blanket forex exemption dropped from final bill; Treasury to determine issue
Asian traders lukewarm to renminbi despite US dollar-depeg
Asian exporters and importers are waiting to see more investment and hedging instruments for offshore renminbi before adopting the currency for trading
China and the renminbi: A Risk.net article collection
The recent financial crisis in the west has presented China with a range of challenges as well as opportunities.
Market prepares for rising RMB
Swap rates and NDFs show traders expect the Chinese currency to rise after the weekend saw the end of its dollar peg
Eurozone has two years to agree fiscal union, says DB Advisors
The viability of the Eurozone project continues to weigh on fixed income market, says chief investment officer of DB Advisors.
Korea moves to restrict FX derivatives leverage
Bank of Korea and Ministry of Strategy and Finance cut back leverage caps and limit corporate hedging of currency risks to 100% from 125% of exposure