Dealers claim it’s a vital tool for managing risk. Clients say it’s open to abuse. How should regulators treat the problem child of financial markets?
European trading venues have broad discretion when responding to market emergencies
Global standard-setter intends to release results of review in third quarter of 2024
Dealer Rankings 2023: Analysis of millions of trades reveals big fish – and small ones – in 10 derivatives instruments
Dealer Rankings 2023: Three US banks are consistently top 10; none are consistently top five
Dealer Rankings 2023: For buy-side firms, the list of banks you can trade with depends on who you are
For some, 0DTEs could spell doom in adverse market conditions; others dismiss such talk as dramatics
A market-making model that considers correlation, transaction costs and market impact is presented
Murky rule books prevent non-bank market-makers from competing for Europe’s growing online customer demand
Even buy-side representatives warn the impact of retail order auctions is unpredictable
The USP of peer-to-peer FX matching venues is that they cut out the middleman. So why are they now inviting them in?
SEC filings hint at wider shake-up in wholesale options market-making
Automated market-makers are already used for EUR/USD trades – now can they tackle settlement risk?
Swiss bank draws on electronic macro business for FX leadership roles
Oxford-Man Institute is among those asking: could algorithms gang up and squeeze customers?
EBS and Refinitiv fight to restore market share – but bilateral trading may be too entrenched, dealers say
German and Czech proposals would also put kibosh on commission’s mooted ban on the practice
TraderTools’ PriceOn tech enables regional banks to internalise FX flows similar to top-tier dealers
New paper introduces quantitative framework for optimal FX hedging
An optimal liquidity model for pricing and hedging decisions is presented
Q&A: Automated market-making may have contributed to depegging, says a crypto fund manager
LSEG arm takes carrot-and-stick approach to market-making on primary venue
Veteran quant has long warned about fundamental flaws in algorithmic stablecoins
A framework to exchange fiat currencies on-chain consistently with off-chain prices is presented