FX Market

4 days ago | fx-markets.com | Cole Lipsky

FX options venue SpectrAxe has hired Robert Schultz as chief operating officer for the Americas, effective April 21. Schultz joins from Deutsche Bank where he worked for more than 12 years, most recently serving as a product manager and vice president in FX prime brokerage and algo trading. In his new role, Schultz is tasked with expanding the credit intermediation network for SpectrAxe’s central limit orderbook (Clob) for all-to-all trading of over-the-counter FX options. “We are bringing in

1 week ago | fx-markets.com | Cole Lipsky

With foreign exchange volatility surging to new heights, a growing number of execution management system (EMS) vendors are developing automated solutions designed to help buy-side firms manage operational risk when trading FX options. Buy-side traders have long been frustrated by the lack of effective integrated workflow tools for the instruments. In December last year, the FX trading head at T Rowe Price said it “feels like it’s [done] on the back of a cigarette packet”. Now vendors like Digital

3 weeks ago | fx-markets.com | Chris Davis

Indonesia’s new central counterparty (CCP) for foreign exchange derivatives is to seek recognition from regulators in three overseas jurisdictions this year, amid a flurry of membership enquiries from foreign banks. “[Foreign banks] have shown their enthusiasm [and] willingness to join,” said Abdul Hadie, head of strategic planning and enterprise risk management at Indonesia Clearing and Guarantee Corporation (IDClear). “The major concern is when we will apply for recognition in their home

4 weeks ago | fx-markets.com | Helen Bartholomew

Hedge funds are turning once again to hybrid options – a standout feature of 2024’s wave of ‘Trump trades’. This time, though, firms are using the structure to express views on tariffs and the threat of recession. Investors placed high numbers of hybrid option bets on US exceptionalism in 2024, as they correctly predicted that a victory for Donald Trump in November’s election would drive US equities and rates higher and strengthen the US dollar. Trump’s tariff policy has since whipped up fears of

1 month ago | fx-markets.com | Joe Parsons

Bankers typically greet the launch of a new foreign exchange trading venue with a weary shrug and a mutter of “not another one”. However, the expected arrival of CME’s FX Spot+ on April 13 has sparked a different response. FX traders are cautiously optimistic about the platform’s aims to connect the over-the-counter spot world with the futures exchange model. If successful, it could boost liquidity and trading volumes in the FX futures market. “If [FX Spot+] spreads are competitive relative to OTC