FX HedgePool (FXHP), a new foreign exchange utility enabling the buy side to match offsetting passive hedging flow, launched on January 31 with three large buy-side firms matching what is said to be a sizeable EUR/USD trade, FX Week has learned. Jay Moore, founder and chief executive officer at FXHP, confirmed US-based Eaton Vance Management and Vanguard were among the first firms to go live with the service last week. He declined to name the European firm that stood on the other side of the

For much of 2019, the sell side has been absorbed by the credit landscape and what it will look like in the future as banks’ balance sheets continually come under the microscope. As post-crisis regulations work their way into the market, profitability, and the best use of balance sheet and capital are becoming ever more important to banks. But in 2020, the buy side may start paying more attention to the issue as the industry takes a serious look at clearing, and the ability for banks to get

The head of the industry body tasked with overseeing the FX Global Code of Conduct says last look will not be banned, despite some market participants apparently delaying signing the principles-based document because of the practice’s continued use. “We aren’t going to ban last look. You don’t have to use last look. There are plenty of other providers who don’t use last look. You have a choice,” says Guy Debelle, chairman of the Global Foreign Exchange Committee (GFXC). Referring to the

A prolonged period of low volatility in currencies has left one question top of mind for dealers as a new decade dawns: how can banks continue to grow market share in an environment of continued margin compression, low volumes and challenges from rivals? The answer may lie in scanning the periphery, that faint area at the edge of a bank’s vision, which has largely been away from the centre of gaze. In 2020, foreign exchange dealer banks will be sharpening their peripheral vision by looking for

In 2018, the finance industry started to consider what technology could do for their businesses. A year later, they were in the foothills of what was possible in parts of their firms. The year 2020 is likely to usher in several strategic initiatives resulting from those technological explorations, and, as a result, new entrants may come into the market across the trade lifecycle, offering participants different ways of conducting business. “2019 has been a year of strategic evaluation, in terms