Foreign exchange
Banks and ECNs join forces to prevent FX flash crash
Citi, JP Morgan and Morgan Stanley join Deutsche Bank on Traiana's enhanced CreditLink service
Australian regulators suggest clearing exemption for foreign exchange
Reserve Bank of Australia discussion paper commits to harmonising rules with US and Europe
Risk and treasury managers get to grips with Indochina
New frontiers
CFTC rule-making narrows field in repository race
CLS decides not to pitch to become a foreign exchange repository provider after CFTC rule-making demands extra granularity and timeliness in data reporting
FXall looks to Sef licence to boost liquidity
FXall chief executive Phil Weisberg suggests banks might choose to outsource some elements of their single-dealer business to multibank platforms when Dodd-Frank Sef rules become binding
Exemption clarity allows market participants to prepare for new regime
Banks, market infrastructures and industry associations prepare to move forward with regulatory preparation, now that fx swaps and forwards are set to be exempt
US Treasury will exempt forex swaps and forwards from Dodd-Frank
Afme's global forex division welcomes the decision, announced on April 29, and calls on European rule-makers to follow suit
Deutsche and Barclays sweep into CNH derivatives
Banks both now offer offshore renminbi trading in spot, forwards and swaps on their FX platforms after new launches over the past fortnight
Isda raises concerns over Russian netting laws
Despite the challenges involved, banks and brokers are excited by the progress being made to open up the Russian market
LCH.Clearnet confirms FX options clearing for 2011
Annual results confirm significant investment in developing clearing services for FX options
EU Council leans towards special treatment for FX
Industry's concerns starting to be reflected in legislation proposals
China and HK central banks close to finalising new CNH clearing arrangement
Market participants are close to completing the legal and operational details relating to a new custodian account arrangement that would allow the city's participating banks in offshore renminbi to take credit risk against the People's Bank of China…
Yen will strengthen as it did after Kobe, say currency strategists
The earthquake and tsunami that struck Japan on March 11 will not force a weakening of the yen, according to currency strategists focused on the region.
Electronic trading and clearing of NDFs poised for growth in Asia
Asian regulators are expected to closely follow their peers in the US and Europe in demanding swap execution facilities and over-the-counter derivatives clearing in Asia. This may bolster e-trading for NDFs based on Asian currencies
Sponsored statement: DBS Bank
Regulating the renminbi
Sponsored statement: Société Générale Corporate & Investment Banking
Looking both ways
Thomson Reuters Matching hit by four-hour outage
Banks say liquidity was affected by the service outage but it was fortunate to occur at a quiet time for the market
HKEx to launch renminbi secondary market facility to support IPOs
The exchange says the new offshore renminbi secondary market liquidity pool will not introduce additional counterparty or forex risk, thanks to a back-to-back arrangement with interested partner banks and brokers
CLS considers membership category for CCPs
"Allowing CCPs to settle FX trades bilaterally would reintroduce Herstatt risk, so it would certainly be preferable to have CCPs become either direct or third-party members of CLS," says LCH.Clearnet executive
Industry in flux as electronic trading and risk control comes to the fore
Creative destruction
DBS to debut CNH structured notes in Singapore; close-out settlement backstop in place to deal with China policy u-turn
DBS is set to become the first financial institution to offer renminbi structured notes and unit trust to private banking clients in Singapore on February 28. The bank has also drawn up contingency plans to address the policy risk of Beijing changing its…
Deutsche Bank takes offshore renminbi electronic on Autobahn
Deutsche Bank claims to be the first major dealer to offer offshore renminbi on an electronic trading platform, although forex broker EBS says it already offers a hybrid broking service for the offshore Chinese currency. Together, however, the…
CLS committed to settlement risk mitigation under new regulations
68% of respondents to FX Week online poll believe CLS should be central clearer for FX products, but CLS insists it remains focused on mitigating settlement risk
European Parliament has neglected FX exemption question, says UK MEP
Kay Swinburne criticises colleagues in the European Parliament for failing to tackle the question of whether forex contracts need to be subjected to new clearing and reporting requirements