Latest Markets
Repo and FX markets buck year-end crunch fears
Price spike concerns ease as September’s surprise SOFR jump led to early preparations for bank window dressing
US senators press CFTC on Japan swap clearing
Boozman and Hagerty urge action on yen swap clearing access to JSCC in letter to US regulator
Traders dredge 0DTE data for intraday gamma insights
Firms such as UBS, BofA and OptionMetrics are investing in continuous net options position monitoring
Long gamma puts brakes on post-election US stock rally
Call selling by ETFs helped fuel largest net gamma positioning among dealers since July
Cross-currency futures could ease bilateral burden – CME
Quarterly €STR-vs-SOFR contract could be used by Stir desks to manage currency basis risk
Exchanges vie for EGB futures market
Rivals eye Eurex’s dominance in EGB futures, but dealers are split on the likelihood of challengers succeeding
Hedge funds
BofA’s rates revamp leans into multi-strategy boom
New rates head Laura Chepucavage prioritises collateral efficiency, e-trading and central risk book for enlarged rates, futures and financing unit
Millennium risk manager defends leverage in basis trade
“Gross notional measures don’t equate to market risk,” says Scott Rofey
FX options market eyes Trump inauguration trades
FX Markets Europe: Traders turn to short-dated plays on cabinet picks and early tariff actions
Canada benchmark shaken by T+1 hedge fund influx
Shortened settlement cycle swept hedge fund trades into Corra, making the rate more volatile
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Goldman Sachs retakes top FXO dealer spot with mutual funds
Counterparty Radar: Trades with SEI Investments boosts US bank to top spot
Foreign exchange
Consortium-backed FMX eyes push for FX unit
Formerly Fenics FX, the venue has seen growth from dealers and non-banks using its pegged order types and dark pool liquidity
LSEG shelves replatforming project for FX Matching venues
After EBS migration, dealers had little appetite for another major technology project
FX options workflows need an overhaul, say buy-siders
FX Markets Europe: Traders say electronification of FX options is still lagging
Bilateral streaming relationships set to grow, say LPs
FX Markets Europe: More clients are embracing APIs to access bank liquidity directly
Dealers weigh hurdles to EU bond futures’ prospects
EU bond futures are getting closer to launch, but obstacles around issuance, liquidity and demand cloud the outlook
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