Tag: Liquidity

Liquidity

And Another Thing…

We should not be blind-sided by the relative calm at this week’s quarter end WM Fix, the fact is FX market conditions are as bad as I can remember them in my almost 43 years in the industry – and that includes countless multi-big figure days (or hours sometimes). The difference when those conditions hit […]

London 4pm Fix Goes OK – But What Happened Before it?

The quarter end WM 4pm Benchmark Fix passed off without the type of incident seen at the Tokyo Fix earlier in the day, but dealers are scratching their heads about what happened in the minutes leading up to the five-minute window that spans 4pm London. The expectation was for strong US dollar demand going into […]

In the FICC of It

It’s an all Profit & Loss affair for this week’s podcast as Colin Lambert is joined by P&L’s editor-in-chief Julie Ros to run through a long agenda in these “interesting” times. This being the podcast Lambert can’t resist a little cynicism to kick off as he “praises” some market analysts’ abilities, but Ros easily pulls […]

Execution Methods in Focus as Eyes Turn to Tricky Month End

Even though liquidity conditions in FX markets remain sufficiently robust to ensure a reasonably functioning market, sources say that different mechanisms are now being seriously considered – especially as the market eyes what could be a tricky quarter end benchmark Fix on Tuesday (March 31) – a time when volumes submitted for fixing are significantly […]

Liquidity Thins Out as Conditions Take Toll on FX Market

Conditions in FX markets are deteriorating steadily according to market sources as liquidity providers (LP) ration precious resources and battle widespread shut downs of offices. Spreads, which have been gradually widening over the past few days, have continued to do so Monday with dealers reporting top of book spreads on FX platforms anywhere from between […]

Central Banks Coordinate on Further US Dollar Liquidity

The Bank of Canada, the Bank of England, the Bank of Japan, the European Central Bank, the Federal Reserve, and the Swiss National Bank are today announcing a coordinated action to further enhance the provision of liquidity via the standing US dollar liquidity swap line arrangements. To improve the swap lines’ effectiveness in providing US […]

And Finally…

There’s nothing like a crisis to bring out the best and worst in people and the Covid-19 calamity is right up there with the best of them. Overall though, in terms of markets, I am not that surprised by how things have gone, indeed I am a little bemused at the amount of people who […]

And Another Thing…

As we reported at the start of this week, Citi formally confirmed what most of us knew, that it was cutting the number of connections to its FX business. I see this as the start of a process, however – nowhere near the end – one that also reflects what is likely to be a […]