HKEX Eyes FX Clearing Growth

Hong Kong Exchanges & Clearing (HKEX) becomes the latest major exchange group to identify FX clearing as a growth area, after announcing last week that its OTC Clear service handled its first deliverable FX swaps and forward contracts. The banks involved in the transaction – which was hailed by HKEX as “a step forward in […]
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CME, Bakkt, Outline Bitcoin Option Details

CME Group has released details of its options on bitcoin futures, which were announced in September and are targeted for launch in Q1 2020. As expected, each contract is to be based on one of CME’s bitcoin futures contracts, which in turn consists of five bitcoin, and will be settled into one futures contract when […]
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Major Dealers Call for More Action on CCP Soundness

In a white paper released jointly, BlackRock, Goldman Sachs, JPMorgan, Allianz, Citi, Societe Generale, State Street, T. Rowe Price, and Vanguard, have presented detailed recommendations from both buy-side and sell-side perspectives to further enhance the safety and soundness of central counterparties (CCPs. The firms say that while CCPs have been increasingly relied upon to protect […]
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Eurex Begins Clearing Cross Currency Swaps

Eurex Clearing has cleared its first cross currency swap transactions, with the trades being submitted by JP Morgan and Morgan Stanley. In a release issued today, Deutsche Börse Group says that cross currency swaps represent an “important component” of its overall FX strategy, which it is executing across Eurex, Eurex Clearing and 360T. Eurex Clearing’s […]
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LCH Adds Deliverable FX to Clearing Offering

Clearinghouse LCH has announced that it has expanded its deliverable FX offering to include FX forwards, meaning members of it ForexClear service are now able to clear this product in eight currency pairs, AUDUSD, EURUSD, GBPUSD, USDJPY, USDCHF, EURJPY, EURCHF and EURGBP, with physical delivery. The product extension builds on the launch of deliverable FX options […]
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FX: A Trading or Data Business?

At the recent Forex Network Chicago conference David Mercer, CEO of LMAX Exchange Group, was interviewed by Colin Lambert about the foreign exchange and crypto market landscapes. This is an edited and abridged version of that discussion. Colin Lambert: There is a view out there that FX is no longer a trading business, how do […]
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HKEX Drops Pursuit of LSEG

Hong Kong Exchanges and Clearing Limited (HKEX) has announced that it will not make an offer for the London Stock Exchange Group plc (LSEG), despite proposing a deal to combine the companies last month worth £31.6 billion. “The board of HKEX continues to believe that a combination of LSEG and HKEX is strategically compelling and […]
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New Exchange Launches Targeting Institutional Crypto Trading

A new exchange for trading cryptoassets that is targeting the institutional and professional market segments has launched in London today. The exchange, GCEX, is part of the GC Group, which was established in 2018 in response to demand for regulated and compliant exposure to the cryptoasset market, company officials say. Authorised and regulated by the […]
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LCH Claims First with Link to FX Connect TradeNexus

Clearing house LCH has announced that it is the first clearing house to integrate with FX Connect TradeNexus, State Street’s FX trading platform that provides exception-based automated matching, trade and settlement confirmation enrichment and third party messaging. Kate Lowe, managing director, global head of TradeNexus, says, “Uncleared margin rules are changing the way the market […]
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CME to Launch Bitcoin Options

CME Group has announced plans to launch options on its bitcoin futures contracts in Q1 2020, pending regulatory review. “Based on increasing client demand and robust growth in our bitcoin futures markets, we believe the launch of options will provide our clients with additional flexibility to trade and hedge their bitcoin price risk,” says Tim […]
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