News
CFTC’s Doge-inspired drive to enforcement may fall short
Lawyers doubt guidance on rewards for self-reporting goes far enough
Hedging playbook goes ‘out the window’ as Trump tariffs slam markets
Dispersion, put spreads and VKOs paid off as stocks plunged, but outlook remains wildly uncertain
Tariffs volatility prompts rush to re-hedge EUR/USD options books
Banks left scrambling to buy vol as spot surged beyond expectations
Dealers bullish on Bloomberg chat interface for FX markets
Service expanded its API offering to integrate broker chats into banks’ engines for cash FX pricing late last year
DeepSeek success spurs banks to consider do-it-yourself AI
Chinese LLM resets price tag for in-house systems – and could also nudge banks towards open-source models
For US Treasury algos, dealers get with the program
Four banks now offer execution algos on Bloomberg, with plans to go further, faster
Snowballs show signs of life amid China stock rebound
A-share jump and expiries drive new issuance, but dealers say regulations are depressing volumes
Indonesian CCP seeks thumbs-up from US, UK and Japan
Growing foreign bank interest pushes IDClear to pursue regulatory approval overseas
Corporates hamstrung in response to FX volatility
Restrictions around hedging programmes leave US firms struggling to adapt to dollar weakness
People: Natixis adds global markets trio, Six switches CRO, and more
Latest job changes across the industry
Shifting credit markets could push SRT pricing wider
Rising volatility may force issuers to adjust pricing in line with broader credit spread trends
Gould stands by OCC decision to end exams for reputation risk
Comptroller nominee also blames SVB failure on poor supervision, not tailoring rule
CCAR methodology may give first glimpse of Fed’s transparency drive
Industry calls for more details on global market shock and new private equity treatment
Credit markets brace for Trump tariffs fallout
Traders have largely shrugged off the threat of global trade wars, but worries remain about economic weakness
UBS takes standardised approach for FRTB – for now
Swiss bank is one of the largest to drop internal models; sources say it could switch later
Top 10 op risks: cyber still top, but change management surges
AI-enhanced threats permeate this year’s top operational risks for financial firms, from infosec to geopolitics
Industry fears Emir 3.0 fast model approval will cause delays
More model changes could be caught by proposed criteria for defining significance
EU debt wave raises dealer capacity concerns
Ongoing QT and upcoming defence spending piles pressure on bank balance sheet supply, say dealers
CFTC’s enforcement resolution sprint has no expiration date
But firms that offered settlements in first two weeks will be prioritised for 30-day turnaround
Bowman’s ascent sparks office intrigue at the Fed
Trump’s vice-chair for supervision pick is said to have a prickly relationship with Powell
Jacky Mak leaves HKEX to take career break
Industry veteran and Swap Connect pioneer announced resignation at weekend
Basis traders mull UST self-clearing as response to SEC mandate
Inter-affiliate exemption requested by hedge funds could ease shortage of clearing capacity
ALM desks await rebound after euro swap spread hit
Bank treasury desks still feeling pain on bond and asset swap positions that saw big losses last year
Fed’s NBFI scenario may be more use than CCAR – experts
Main severely adverse scenario does not capture contagion risks from any squeeze on non-banks