BNP Paribas launches alternative to carry-trade strategies


BNP Paribas has launched two new foreign exchange indexes, Galaxy Alpha and Galaxy Alpha Plus, aiming to offer an alternative to traditional carry-trade strategies, which have underperformed this year amid extreme volatility in forex and interest rate markets.

The indexes seek to extract outperformance between a dynamic basket, selected every month based on the currencies with the highest interest-rate differentials, and a fixed benchmark basket of traditional currency pairs. The dynamic basket

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Stemming the tide of rising FX settlement risk

As the trading of emerging markets currencies gathers pace and broader uncertainty sweeps across financial markets, CLS is exploring alternative services designed to mitigate settlement risk for the FX market

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