Banks are finding it hard to risk-manage the exotic yen options structures that hedge funds are using to bet on interventions by the Bank of Japan, dealers say. The trades – reverse knockout (RKO) ...

The Bank for International Settlements is partnering with the central banks of China, Hong Kong, Thailand and the UAE to conduct new tests of cross-border central bank digital currency. The BIS ...

Royal Bank of Scotland (RBS) has hired David Katalan as head of US options trading for currencies, based in Stamford, Connecticut. Katalan, who began his role this month, reports globally to Simon ...

Toby Baker, head of foreign exchange trading at T Rowe Price, will retire at the end of March after 25 years on the firm’s FX desk and four decades in the industry. He is stepping down amid a ...

This is the second of two features about the use of AI tools by quants in their daily work. The first looked at how banks and buy-side firms are using AI and the lessons they have drawn from ...

Citi was the top US dealer for foreign exchange trading revenues in 2025 on the back of increased client hedging demand, according to regulatory filings. The bank generated revenues of $7.9 billion ...

JP Morgan has phased out a model that leverages machine learning technology for foreign exchange algorithmic execution, citing issues with data interpretation and the complexity involved. The US bank ...

Benjamin Klixball has joined non-bank market-maker IMC Trading in New York in a senior sales and distribution role. Klixball had previously spent nine years at XTX Markets in the US, most recently as ...

The London Stock Exchange Group’s (LSEG) foreign exchange trading venue, FXall, is preparing to launch a service that separates credit risk from market-making in FX forwards trades with buy-side ...

Bloomberg has launched a foreign exchange price discovery tool that uses natural language processing (NLP) to scan traders’ chatrooms and consolidate bilateral quotes into a single screen. The product ...

Amazon, Meta and Tesla – three of the so-called magnificent seven tech firms that drive US stock market performance – decline to hedge their day-to-day foreign exchange exposures. So concludes a study ...

In mid-2020, US asset manager Franklin Templeton was by far the largest user of foreign exchange options among US mutual funds, with over $50 billion notional on its books – more than four times ...