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Vanguard begins clearing NDFs on LCH
US
mutual
fund
manager
Vanguard
has
begun
clearing
its
non-deliverable
forward
(NDF)
transactions
at
LCH
ForexClear,
according
to
three
sources.
It
is
understood
the
Philadelphia-based
firm
started
clearing
its
NDFs
through
a
clearing…
How banks are adapting to all-powerful pod funds
Hedge
funds
are
tricky
customers
for
banks.
They
can
trade
complex
instruments
in
big
size,
with
little
notice.
They
put
multiple
banks
in
competition
at
once,
making
it
hard
for
dealers
to
profit
from
trade
flow.
And
the
growth
of…
Invesco more than triples size of its FX options book
Invesco
more
than
tripled
the
size
of
its
foreign
exchange
options
book
during
the
fourth
quarter
of
2023,
as
it
took
several
large
positions
in
G10
and
Latin
American
currencies.
The
firm
had
the
largest
increase
in
notional…
Asia FX Awards 2024: The winners
FX
Markets
is
delighted
to
announce
the
winners
of
the
Asia
FX
Awards
2024.
The
seventh
edition
of
the
Asia
FX
Awards
recognises
and
showcases
the
best
banks,
dealers,
brokers
and
currency
managers
in
the
Asia-Pacific
region…
European funds face upsurge in settlement risk after T+1
Two-fifths
of
European
fund
managers’
daily
foreign
exchange
flows
could
be
forced
to
settle
outside
of
CLS,
a
prominent
trade
association
has
warned.
According
to
a
new
whitepaper
from
the
European
Fund
and
Asset
Management…
SocGen hires Estrada as global head of FX
John Estrada has joined Societe Generale as the bank’s new global head of foreign exchange, he has confirmed in a Linkedin post.
Estrada left Credit Suisse in November last year after serving more than 12 years at the former Swiss…
Inside BGC’s quiet move into agency broking
BGC Group, Caventor’s parent, has London offices in Churchill Place, Canary Wharf
The rise of the multi-manager hedge funds in recent years has coincided with a well-documented ‘brain drain’ of experienced sell-side staff to the buy side.…
Quarter-ends add $184bn to FX swap costs, study finds
A new research paper suggests the widening of bid/ask spreads at quarter-end could be generating as much as $184 billion in additional transaction costs within the foreign exchange swaps market.
The paper, “Foreign Exchange Swap…
US dealers slam capital hit on clearing for unreal CVA risk
US banks warn that proposed prudential regulations could force them to capitalise a risk from their clearing clients that may not even exist. Sources say it could increase costs for end-users of cleared products, and potentially reduce…
As T+1 looms, non-US firms consider out-of-hours trading
Asset managers outside the US are looking to automate foreign exchange trades to help meet tighter cutoff times for settling the transactions.
The impending transition from T+2 to T+1 settlement in the US in May presents a logistical…