Asset management
BRL bulls hold firm after Bolsonaro first-round win
Hedge funds keep USD/BRL puts ahead of election run-off as protection premiums for Lula upset soar
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
Pricing kernel monotonicity and the conservativeness of risk-neutral forecasts
This paper analyses the relationship between option-implied, risk-neutral forecasts and their real-world counterparts through the lens of stochastic dominance and pricing kernel monotonicity.
MSIM retools renminbi options wager
Counterparty Radar: US manager rebuilds USD/CNH call book to $15.7bn with strikes closer to spot and cheaper premiums
SocGen FX forwards trading rockets with US fund managers
Counterparty Radar: Surge in French bank’s FX forward volumes propels it to second spot in Q1 2026
At the deep end: FX HedgePool’s struggle to stay afloat
Lack of offsetting flow, tech bottlenecks and higher-than-expected costs weighed on start-up’s growth
Deutsche Bank takes on custodians with automated FX service
Bank claims integration of HausFX with BlackRock’s Aladdin can help cut costs by up to 90%
Esma supervisory switch could become ‘distraction’
Push to transform watchdog might hinder market reforms, say some
smartTrade eyes role as direct streaming linchpin
Vendor plans to tap growing demand for direct API trading solutions across asset classes
Russell’s flexi hedging aims to tame jumpy yen
Japanese clients can dynamically switch hedging profile based on USD/JPY movements
Two fund managers behind surge in ETF options
Counterparty Radar: New data shows notional for the instrument rivals that of equity index options
From pink tickets to Python: Toby Baker on 40 years in FX
T Rowe Price’s departing FX head reflects on the pain points and keys to success for a modern buy-side trading desk
Franklin Templeton closes $5bn yen options book
Counterparty Radar: Asset manager’s bets on USD/JPY soured as yen weakened through Q4
Ellington spinout hopes to ease whole-loan investing
Data hurdles have frustrated insurers as they look to increase allocations
Short dollar bets make cautious return after safe-haven rush
Cautious USD-weakening positions re-emerge despite return of natural ‘dollar smile’ hedge
Repo market exposed to $100 billion-plus cyber tail risk, OFR warns
Concentration and time-of-day vulnerabilities amplify impact of extreme outcomes
Industry frowns on FCA’s single-sided trade reporting efforts
Buy side warns UK attempt to ease Mifir burden may miss target; dealers aren’t happy either
FSB chief defends global non-bank regulation drive
Schindler slams ‘misconception’ that regulators intend to impose standardised bank-like rules
US mutual funds slash short euro positions at record pace
Counterparty Radar: Pimco cut $4.6bn of EUR/USD puts in Q3 amid changing stance on dollar direction
Multi-asset investing: capturing diversification and alpha in a complex market
How multi-asset and cross-asset strategies are redefining performance and scale across institutional portfolios
BlackRock appoints Pierre Sarrau as chief risk officer
Current CRO Edward Fishwick will be head of research at BlackRock’s RQA group