Industry roundup: 16 April 2020
by Ben Poole
News in brief featuring DBS, Currencycloud, Fairfax, Deloitte, KyckGlobal, and more.
FX Settlement
Background
A corporate FX transaction involves a bank, on behalf of their corporate client, paying for the currency it sold at an agreed rate to another bank and receiving a different currency in return for the…
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J.P. Morgan establishes electronic FX trading and pricing engine in Singapore
by Ben Poole
This is the fourth such engine launched by the bank, following New York, London and Tokyo.
Algos in FX: slow start, massive potential
by Ben Poole
A Greenwich Associates report explores the evolution of algorithmic trading.
Bank of China and Refinitiv launch foreign exchange price prediction app
by Ben Poole
DeepFX uses AI to predict short term price movements in FX pairs for market participants and is available to global users of Eikon.
Integral partners with Western Union to provide FX technology solutions
by Ben Poole
The cloud-based BankFX platform offers control over more than 10,000 currency pairs.
Sumitomo Electric Industries to access CLSSettlement as a third-party participant
by Ben Poole
It becomes the first Japanese manufacturing company to settle currency trades via CLSSettlement as a third-party.
Deutsche Bank invests to support Vietnam cross-border trade
by Ben Poole
The bank is responding to higher demand for Vietnam dong on FX platforms.
Deutsche Bank invests in Sri Lanka
by Ben Poole
The bank is targeting corporate clients with a new digital FX platform.
More banks join CLSNet
by Ben Poole
BNP Paribas, Citibank and J.P. Morgan among those signing up to the post-trade processing platform.
SMBC selects Kx for e-FX infrastructure
by Ben Poole
The multi-year agreement will provide the bank with a variety of capabilities, including algo trading and risk management tools.
Standard Chartered’s first use of FX e-trading engine demonstrates latency reduction
by Ben Poole
The inaugural trade, executed with the bank’s counterparty United Overseas Bank, saw a latency reduction of 80%.
US corporates rack up FX losses of US$11bn in three months
by Ben Poole
A Kyriba report identifies prolonged currency volatility as a factor in the Q3 2019 losses.
North American companies see US$21bn in FX losses in latest quarter, research finds
by Ben Poole
A Kyriba report shows FX losses cost companies more than US$44bn in 2019.
FX-hedge portfolio optimization using TIP
by Jack Large
TIPCO claim new levels of FX hedge efficiency whilst cutting FX dealing costs
FX API aggregators gain, while ECNs work to prove themselves
by Ben Poole
A Greenwich Associates report shows that multidealer platforms and telephone trades remain the most popular ways of executing FX trades
Kantox to provide Citi with FX payments connectivity for US corporates
by Ben Poole
Kantox will connect directly with Citi's foreign currency payments platform as part of the arrangement.
SWIFT RMB Tracker finds London’s key role in FX business
by Ben Poole
London leads the world's RMB FX business, while more banks globally are using the currency for payments.
Bank of America Merrill Lynch offers FI clients guaranteed FX rates for up to 180 Days
by Ben Poole
Banks can now offer their customers more rate certainty on cross-currency payments.
BNP Paribas announces strategic partnership with Kantox
by Ben Poole
The partnership aims to help treasurers automate and streamline FX workflows.
AFEX and FXD Capital partner to offer end-to-end FX and cash management solution
by Ben Poole
The holistic offering is designed to support corporate treasurers in a time of low interest rates and volatile markets.
J.P. Morgan bringing electronic FX trading and pricing engine to Singapore
by Ben Poole
The partnership with the country's central bank is designed to consolidate its status as a leading FX centre in Asia.
JCRA releases whitepaper on deal-contingent hedging
by Ben Poole
Paper examines how the instrument is growing in popularity for a variety of hedging activities.
Malaysia moves to liberalise FX administration policies
by Ben Poole
The policy change offers benefits for resident and non-resident treasury centres.
TraditionDATA and Numerix expand foreign exchange data coverage and analytics
by Ben Poole
The move is designed to open up coverage of global FX spot and derivatives markets.