North America
Repo market exposed to $100 billion-plus cyber tail risk, OFR warns
Concentration and time-of-day vulnerabilities amplify impact of extreme outcomes
Repo stress drove 2025 SOFR-to-fed funds swap pivot
SOFR OIS volumes slipped to almost half of fed funds activity during September repo spikes
How Optimal aims to shake up US retail options trading
New wholesaler has assembled a team of market-makers to compete with Citadel, IMC/Dash and Jane Street
HSBC leads F&O funds surge in turbulent January
US FCM adds $2.1bn in customer funds in two weeks
SocGen’s head of US Treasury clearing preparations to depart
Bank’s head of product for FX and fixed income prime brokerage for the Americas set to leave later this month
Forex looks to flip the (stable)coin
Friction-free foreign exchange is the prize offered by stablecoins such as Tether and USDC. But the prize remains elusive
Real money investors cash in as dispersion nears record levels
Implied spreads were elevated to start 2026. Realised levels have been “almost unprecedented”
DFAST 2026 softens again, but SCB freeze blocks capital gains
Banks to miss out on any capital relief from gentler scenario
JP Morgan gives corporates an FX blockchain boost
Kinexys digital platform speeds cross-currency, cross-entity client payments
Huntington’s CRE loans spike 42% after Veritex acquisition
Criticised loans hit five-year high following $1.3bn portfolio expansion
Fannie, Freddie mortgage buying unlikely to drive rates
Adding $200 billion of MBSs in a $9 trillion market won’t revive old hedging footprint
Regionals tap FHLB advances as Fed eases liquidity stance
Borrowing rose in the fourth quarter of last year, despite regulatory push on discount window
FICC-cleared MMF repos hit record share in December
Trades routed via clearing house hit $1.3trn, outpacing overall MMF repo expansion
FCMs warn of regulatory gaps in crypto clearing
CFTC request for comment uncovers concerns over customer protection and unchecked advertising
US banks tread carefully after record stress buffer cuts
Lower SCBs take effect, but capital deployment remains restrained
How US shutdown set off long-awaited basis bet
Hedge funds dust off a years-in-the-making relative value trade to profit from fallback mismatch
FXSpotStream expands into US Treasuries trading
Bank-owned streaming venue targets mid-year launch, offering “all you can eat” subscription fees
MMF investments hit new high after $1trn gained over 2025
Outright UST holdings drive surge with $900bn rise in six months
Barclays, JPM drive surge in FCM funds in 2025
Futures, options and swaps customer funds log biggest annual jump since 2020
Fed fractures post-SVB consensus on emergency liquidity
New supervisory principles support FHLB funding over discount window preparedness
PNC emerges as top regional player in private credit
Lender ranks second only to Bank of America for loans to business credit intermediaries