Article ID: 3840312fc679637d4f7391e94ebce18750ea62be8265652082108b91c3687f85
Source ID: regulatory:risk.net
Published At: -
Extraction Method: trafilatura
URL: https://www.risk.net/topics/foreign-exchange-fx
Body Text
Foreign exchange Westpac’s credit exposures surge on Aussie dollar moves Bank adds A$1.5bn in CVA and CCR charges in latest quarter, driven by higher mark-to-market value of derivatives Optimal quoting under adverse selection and price reading A market-making model is introduced to account for significant real-world effects NatWest bridges FXPB and clearing for regional banks New model maintains traditional OTC market access with added direct clearing option Banks join forces for stablecoin builds Three regional consortia gain traction; SG and Standard Chartered stay on solo track UK’s benchmark rewrite threatens access to Asia NDF fixings Key offshore rates likely to fall in scope of new regime, potentially pushing them out of bounds Swaps traders spot their e-FX chance – finally Swaps and forwards dealers are increasingly using spot e-FX techniques for pricing and risk management Chinese exporters step up FX sophistication Onshore corporates traded record FX options volumes in June and are tapping experienced bank traders US buy side flocked to FX forwards and options in Q1 Counterparty Radar: Pimco led $187 billion rise in forwards notional among funds, while TIAA drove insurer activity Bank vs non-bank: FX’s two-tier reality CME and LSEG data show banks provide sticky and broad liquidity, while non-banks cling tightly to the price 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 CLS to launch CNH PvP settlement service Plan will involve settling offshore renminbi in Hong Kong via separate PvP session Beyond FX HedgePool: what’s next for all-to-all? Proponents see bright future for trading model, but obstacles to take-up remain 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 Yen options dealers struggle to hedge intervention risk Hedge funds’ bets on BoJ intervention are leaving dealers with vol-surface exposures they can’t hedge cheaply 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 EUR vs USD stablecoins is the wrong debate Market structure and regulatory cohesion is at the centre of the stablecoin liquidity evolution, says Flow Traders’ digital assets head Dealers split on best path to electronically hedge FX swaps IDB costs see banks eyeing Clobs and dark pools, but traders say brokers still have their charms FactSet’s Portware expands to tackle complex FX EMS vendor eyes automation for high-touch FX trades while adding connectivity to new venues XTX Markets’ US sales head joins rival IMC Trading Benjamin Klixball takes up new role at Dutch prop trader in New York Doubts swirl over future of FX cartel case Group of banks accused of manipulation have filed for the class action to be dismissed Industry calls for Hong Kong T+1 delay amid congestion fears Q4 2027 alignment with Europe and UK transition raises operational risk concerns
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