RBI Opens NDF Trading to Onshore Banks

The Reserve Bank of India (RBI) has announced that as of June 1, onshore banks will able to transact in the Indian rupee (INR) NDF market. The announcement was made as part of a raft of measures by the central bank as it strives to cope with the Covid-19 pandemic. Noting that the offshore INR […]
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Gruesome Virus Developments Hardly News Any More

Virus infection cases kept multiplying in the US Thursday, death tolls kept going up, more governors and mayors ignored President Trump’s dream of packed churches on Easter and the US kept mostly ignoring the kind of contact tracing that slowed the virus to a crawl elsewhere. By one count, the US number of infection cases […]
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XTX Commits £20mn to Charities Battling Covid-19 Effects

XTX Markets is committing £20 million to three funds battling the effects of COVID-19. The funds are to help bring immediate relief for frontline workers in hospitals caring for those with the disease, as well as those in New York City who are unable to get access to food during these difficult times. XTX has […]
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GFXC Issues Statement on Market Conditions

With increased focus on the impending quarter end WM Fix, the Global Foreign Exchange Committee has issued a statement reminding market participants of their responsibilities in what is likely to be a challenging market environment. In the statement the GFXC says given the intense volatility seen in global financial markets this month, it is possible […]
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Trade Associations Urge UMR Implementation Delay

In response to the COVID-19 pandemic, 21 financial industry associations have submitted a letter on behalf of their members requesting BCBS (Basel Committee on Bank Supervision), IOSCO (International Organization of Securities Commissions), and other global regulators to suspend the current timeline for the initial margin phase-in. The letter says this will to allow market participants […]
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Virus Still Unchallenged in US and Dominating the Narrative

The coronavirus, heedless of the new battle of narratives, is steadily spreading mostly unseen Tuesday in and beyond the “hotspots” as US cases topped 50,000, more than half of them around New York City. Fearful that infected New Yorkers fleeing the city will seed other virus hotspots elsewhere, the two most senior government experts in […]
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VaR Shock Has Led to “Clean” EM Positions: Morgan Stanley

New research from Morgan Stanley has concluded that emerging markets investors faced a “VaR shock” in the first two weeks of March which led to the “unprecedented” weakness in EMFX markets as they cut overweight positions., but that shock has passed. The research, by Min Dai, head of Asia Rates and FX strategy at Morgan […]
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Bank of China Unveils Predictive FX App on Eikon

Bank of China has launched DeepFX, an artificial intelligence-based FX trading signal prediction application through Refinitiv’s Eikon. DeepFX is the first released third-party Eikon app from a China based financial institution and was developed by the Digital Asset Management department of Bank of China using deep learning technology to predict the short-term price movements of […]
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CLS FX Volumes Up in February

The average daily volume submitted to CLS in February was $1.81 trillion, a 2.2% rise from January and 5% up from February 2019. Reflecting events at FX platforms that reported data at the start of the month, the growth was exclusively in spot markets with CLS handling $500 billion, up from $401 billion in January […]
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Difficult Trade Offs, Unprecedented QE, Accelerating Infection

Americans who in even greater numbers are staying at home Monday were suddenly being asked to choose between two virus scenarios; one espoused by medical experts, the other by people newly afraid the economy is being irreversibly crippled, President Trump among them. Which view leads to the most prudent outcome, either an early relaxation of […]
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