Non-deliverable forwards (NDFs)
Singapore NDF probe hits market liquidity
Suspect delivery
NDF traders face up to Sef reality
Non-deliverable forwards are likely to be mandated to be traded on swap execution facilities before any other foreign exchange products, but are traders ready?
GFI extends ForexMatch into Asian and African currencies
The interdealer broker is expanding the footprint of its forex derivatives platform by adding Asian and African currency pairs
LCH readies launch of new NDF pairs and client clearing
Five months after launch, ForexClear is ready to start offering client clearing and to add five new currencies to the service, pending the approval of the FSA and the CFTC
Pressure mounts on Esma over clearing exemption
Responses to Esma's draft technical standard on Emir call for the agency to clarify its position on forex clearing - with some suggestion NDFs could be exempt
FX Week China: CNH/CNY forward divergence threat has stabilised
A reversal of the spread between offshore deliverable forwards and onshore NDFs that caused pain for speculators last year is unlikely to recur, say economists
Taiwan’s trade repository setting up reporting agreement with DTCC
Taiwan, home to Asia’s first trade repository, is looking to ink a reporting agreement with DTCC
Japan FSA asks for transparent double-deckers
Double-deckers in for a bumpy ride
Ice to compete with CME and LCH.Clearnet on FX clearing
Competition in forex clearing intensifies as LCH.Clearnet receives regulatory approval and Ice explains how its rival offering will differentiate itself
Japan investors count cost of falling double-decker returns
End of the road for double-deckers?
Singapore’s FX exemption welcomed as a sign of global consistency
A proposal by the Monetary Authority of Singapore to exempt forex swaps and forwards from mandatory clearing is seen as a positive move to harmonise treatment of foreign exchange with the US
LCH.Clearnet’s ForexClear awaits regulatory approval
Forex clearing platform for NDFs is ready for launch, pending regulatory approval, LCH.Clearnet confirmed in its annual report
Exemption for forex swaps and forwards should hold, says GFMA’s Kemp
James Kemp, managing director of the global foreign exchange division, talks to FX Week about the biggest regulatory challenges of 2012
FX clearing has taken an illogical course, panellists warn
Non-deliverable forwards are the current focus for FX CCPs and banks, but panellists argue the risk in those products is negligible
Despite hurdles, clearers map out forex ambitions
Clearing a way for forex
Despite hurdles, clearers map out forex ambitions
Clearing hurdles
Emerging markets focus to boost NDFs despite clearing costs
Growth of non-deliverable forwards market will not be hit by impending clearing laws
Clearing of Chilean NDFs hampered by netting uncertainty
The Central Bank of Chile has the authority to stop financial institutions netting down their transactions, which participants fear might prevent central counterparties from being able to clear contracts denominated in the Chilean peso
LCH.Clearnet eyes November launch for NDF clearing
London-based CCP is set to launch clearing for NDFs in six currencies in mid-November, having shelved plans for options clearing while banks discuss settlement-related issues with regulators
Offshore CNY deliverable forwards in Hong Kong to outgrow NDFs
Rising offshore renminbi interbank rates in Hong Kong have made its deliverable forwards market the cheapest forum compared with NDFs and onshore forwards for corporates to hedge, bankers say
Electronic trading and clearing of NDFs poised for growth in Asia
Asian regulators are expected to closely follow their peers in the US and Europe in demanding swap execution facilities and over-the-counter derivatives clearing in Asia. This may bolster e-trading for NDFs based on Asian currencies
RMB-denominated OTC derivatives poised to take off in Hong Kong
The renminbi deliverable forwards market has hit at least $28 million during the first month of trading following an agreement in July between the the PBOC and HKMA that enabled Hong Kong to act as an offshore centre for the Chinese currency.
Market prepares for rising RMB
Swap rates and NDFs show traders expect the Chinese currency to rise after the weekend saw the end of its dollar peg