Hedging
EC’s closing auction plan faces cool reception from markets
Participants say proposal for multiple EU equity closing auctions would split price formation
Dealers warn of capital squeeze from increased FX hedging
Sharp rise in uncollateralised buy-side hedges could restrict banks’ ability to take on positions
Will Iosco’s guidance solve pre-hedging puzzle?
Buy-siders doubt consent requirement will remove long-standing concerns
Flow market-maker of the year: Citadel Securities
Risk Awards 2026: No financing; no long-dated swaps? “No distractions,” says Esposito
Currency derivatives house of the year: Bank of America
Risk Awards 2026: Early call on dollar weakness helped bank break vega records in April and quickly recycle 95% of risk
Hong Kong regulator exploring Southbound Swap Connect
Discussions on Southbound route for swaps trading follows surge in Northbound activity
Real money looks to dynamic hedges after tariff bout
Buy-siders are adopting more responsive FX hedging strategies after correlations broke down
Inside the 2025 BIS FX survey: dollar wobbles, trading shifts and settlement risks
BIS’s triennial survey shines a light on the forces shaping global FX markets
European exporters add flexibility to FX hedges
Corporates with USD exposures have been reducing hedging tenors and adding optionality
Korean autocalls to make comeback, with ‘smaller pie’ for banks
As equity-linked autocallable channels look set to reopen, new rules could limit market’s revival
The curious case of the missing volatility risk premium
Volatility investors will need to work harder and smarter to capture value, says Capstone
ANZ’s FX forwards surge with Pimco
Counterparty Radar: Australian bank becomes top counterparty to the asset manager after huge jumps in cable and EUR/USD
AI as pricing law
A neural network tailored to financial asset pricing principles is introduced
BIS 2025 FX survey: What the results mean for global markets
Key findings from the BIS triennial FX and OTC derivatives survey
EU banks fear tumbling rates will upset their IRRBB balance
As rates decline, hedging two separate tests of vulnerability becomes more difficult
Has US dollar hedging hype faded?
While the initial wave of real money USD hedging flows disappointed some dealers, many believe there is more to come
Some European banks still failing net interest income test
Swedbank joins seven other outliers after it updates methodology assumptions
How Amundi’s options strategy profited from dollar slump
French asset manager grabbed euro call options at low prices in tactical pivot for its FX absolute return fund
Court ruling challenges ‘fiduciary’ role for pre-hedging
Lawyers suggest overturning of Mark Johnson’s conviction questions dealer-client fiduciary relationship
Barclays braces for a macro storm
Talking Heads 2025: Developed markets are racking up debt. Finding buyers could be difficult, says macro head Hossein Zaimi
Asia investors turn to inverse ETFs for hedging
US-based Direxion eyes Asia listings, while CSOP expands product range to single names