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Tradeweb streamlines bilateral swap unwinds
After sterling IRS termination, platform eyes electronic credit checking and CSAs
Dollar reversal could scupper EM carry boom, dealers warn
Surprise rate hike or a USD rally may force unwinds in popular emerging markets carry trades
Alphabet, Micron ramp up FX hedging
Tech pair leads FX derivatives surge in year to Q2, while notionals at Apple and Johnson & Johnson decline
Manuela Veloso on how banks can make their AI dreams reality
Former JP Morgan head of AI research says open-ended enquiry will unlock technology’s full potential
More dealers enter OTC market – but are there enough?
Dealer Rankings 2026: Data shows bigger list of sell-side names in many markets; also suggests largest buy-side firms may be short of options
Basis trade loses its bite as banks move in
Returns on popular hedge fund strategy dwindle to as little as three basis points, while dealers make use of softened capital rules to replicate the trade
Interest rates
BoE backs away from mandatory gilt clearing
Discussions with industry shift to portfolio-based repo haircuts and ways to encourage voluntary clearing
Citadel, Millennium lead US funds to JSCC as JGB yields soar
Ten US funds represent 25% of client-cleared yen swaps at Tokyo CCP after CFTC relief
Basis trade loses its bite as banks move in
Returns on popular hedge fund strategy dwindle to as little as three basis points, while dealers make use of softened capital rules to replicate the trade
US funds become fixed-rate payers in swap market
Counterparty Radar: Since 2021, receiver swaps have dominated US mutual fund positions; in the latest data, the sector’s book flips round
Counterparty Radar
Matchmaking and benchmarking for OTC derivatives
Counterparty Radar is based on position data from around 20,000 US mutual funds and ETFs, rolled up to the manager level – it shows the OTC derivatives they have on their books, and who they traded them with, providing unique insights into an important market segment. More info
More dealers enter OTC market – but are there enough?
Dealer Rankings 2026: Data shows bigger list of sell-side names in many markets; also suggests largest buy-side firms may be short of options
Foreign exchange
Futures venues eye growth in BRL trading with Asian investors
CME and SGX see ramp-up in out-of-hours demand for lucrative carry trade
NatWest bridges FXPB and clearing for regional banks
New model maintains traditional OTC market access with added direct clearing option
Banks join forces for stablecoin builds
Three regional consortia gain traction; SG and Standard Chartered stay on solo track
UK’s benchmark rewrite threatens access to Asia NDF fixings
Key offshore rates likely to fall in scope of new regime, potentially pushing them out of bounds
Swaps traders spot their e-FX chance – finally
Swaps and forwards dealers are increasingly using spot e-FX techniques for pricing and risk management
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