NatWest Markets
NatWest bridges FXPB and clearing for regional banks
New model maintains traditional OTC market access with added direct clearing option
People: BNY taps Nasdaq CRO for enterprise risk, Hoornweg steers StanChart CIB solo, and more
Latest job changes across the industry
People: CFTC in exit spree, new NatWest Markets CRO, and more
Latest job changes across the industry
Vol ‘too low’ given US uncertainty, say market-makers
Isda AGM: Panellists warn against complacency heading into the summer as US 90-day tariff pause rolls off
XTX Markets hires Brook for Emea market-making
Sam Brook previously worked on buildout of NatWest’s e-FX liquidity desk
Volatility drives up NatWest’s market RWAs despite IMA efficiencies
Higher VAR and SVAR readings overshadow £373 million saving from broader modelling scope
People: New brooms at NatWest and Tradeweb; MUFG splits rates, and more
Latest job changes across the industry
Europe’s FXPBs take advantage of margin rule carve-out
Some big FX options users have switched to dealers capitalising on regulatory mismatch
People: Risk shake-up at Santander, JPM juggles markets, and more
Latest job changes across the industry
NatWest Securities US Treasury trading head departs
Jason Sable joined the UK bank in January 2022 from BNP Paribas
NatWest plans to put the XVA into RFQs
Bank to launch approximation tool on its electronic pricing framework for FX forwards
CDS auction-rigging lawsuit set to proceed
US judge clears way for case in which pension funds allege dealers manipulated CDS settlements
Rising rates lead to greater interest in structured products
Trading volumes ‘could increase fivefold’ as a result of short-term rates rise
Ulster Bank exit sheds £8.7bn off NatWest’s A-IRB credit RWAs
Reversal to standardised approach helps lower capital charges in Q3 despite €514m exit costs
NatWest’s modelled market RWAs up 10% on RNIV backstop
Bank sees higher charges while it reworks VAR engine
Bingeing on block sets: DLT could give FX its ‘Netflix moment’
Blockchain’s proponents say faster settlement times make technology akin to TV’s streaming revolution
Will last look disclosures come to FX derivatives?
JPM and NatWest have published their swaps and options last look windows – will others follow suit?
Almost half of top LPs yet to publish GFXC disclosures
FX market disclosure remains patchy, fuelling buy-side concerns over transparency
Op risk data: SEC says no to Charles Schwab robo-adviser
Also: China steps up scrutiny of wealth management products; Libor fines still rumble on. Data by ORX News
People moves: JPM’s quant shuffle, NatWest hires Solanki, and more
Latest job changes across the industry
MSIM’s baffling $400m options splurge
Funds owned or advised by the manager have spent vast sums on a USD/CNH strategy that appears not to have paid off