Finger of blame is being pointed in each direction between custodians, non-US traders and settlement system CLS over FX cut-offs, with last minute decisions and confusion meaning some asset managers are now left facing operational challenges, pre-funding trades and balancing settlement security with best execution obligations.
The asset manager will expand its FX futures business to Eurex, supported by Banco Santander as clearing member and Deutsche Bank as liquidity provider.
With Rand Merchant Bank as the newest liquidity provider on SGX FX, traders will benefit from a selection of neutral mid, inventory skewed USDZAR spot FX Electronic Spot Pricing (ESP), Request for Streams (RFS) and access to FX forwards and swaps through RFS.
The service mitigates settlement risk for CCS transactions, while also providing multilateral netting against all other FX transactions.
Development will help global market participants improve risk management processes across OTC and futures.
New tool gathers FX and digital assets price and trade data before automatically generating actionable insights to a stakeholder for better informed decision-making.
Individual was previously global head of e-FX and has previously worked at State Street, Morgan Stanley, FXall, and UBS.
The firms are banking on the fact that independent data “is the key to objective price measurement and improved trading outcomes”.
Named C8 Hedge, the new platform provides guidance for managing foreign exchange exposures to facilitate improved returns.
The TRADE sits down with Scott Ferguson, lead analyst, FX and cash management at T. Rowe Price, to explore the current state of play in the restricted currency sphere including buy- and sell-side led innovation and efficiency, the shifting market backdrop, and the need for increased TCA and transparency.