Rates volatility buoys hopes for currency forwards desks

Libor rigging has been seen as a rates market problem, but it also tainted the foreign exchange market – forcing banks to pick and choose even more carefully as they add extra staff for a surge in currency forwards activity. By Michael Watt


Currency forwards desks have had a quiet time of it since central banks cut interest rates to historic lows, but with rates volatility expected to increase – and the more distant prospect of central bank hikes – trading activity could be reinvigorated. The problem for banks that want to increase their staff in anticipation is that some candidates are now tainted by the Libor scandal.

“Every time we see a candidate, the first thing we want to know is whether he or she has any relationship to

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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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