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Trading

Investors oblivious to rising costs of trading derivatives

Investors are being left in the dark as to the huge additional costs their asset managers are incurring to transact highly complicated derivatives. OpenGamma research shows that transaction costs incurred when trading FX Options can be misrepresented to investors by as much as 400%. Transaction costs are the difference between the price of a trade an asset manager decides to buy […]

Bitesize: How volatile is Bitcoin?

Giulio Malberti and Thom Adcock

In late 2017, Bitcoin was in the spotlight for its extraordinary return. But how volatile is it?

Firms’ preparations for transition from LIBOR to risk-free rates

Letters to the CEOs of banking and insurance firms from the Prudential Regulation Authority and Financial Conduct Authority

truPTS - Their Current State and Why Their Website is Down

truPTS - Their Current State and Why Their Website is Down

Time to abandon hope: senior regulators set out vision for LIBOR transition in latest speeches

Blog

Packing the Overnight Bag: Risk-Rree Rates after LIBOR

The team at Sernova Financial provide a detailed insight into the major challenge of moving the entire OTC market away from LIBOR in a relatively short space of time.  

Fake news?

Perhaps this blog post is.

Fake news! How do we tell information from merely gossip? How do we separate the wheat from the chaff? Or, closer to home, how do we know which dealer is most informed, and how the information is learned?

SOFR Swaps Are Trading!

We have now had six SOFR swap trades hit the SDRs. Both Basis vs Fed Funds and Outright OIS has traded. All trades have been $50m and one year maturity. It looks like they were all cleared at LCH. The first swap was done on the TP-ICAP SEF. SOFR Everything you need to know about […]

ISDA AGM Round-Up - 8 Announcements with a Focus on Margin

The ISDA AGM generated a wave of content last week which we've assembled into one handy place. Most of the material is focussed on margin for non-cleared products given the changes due in 2019.

Live FX Trading With Shanghai via R5FX

Using R5-SHCH Connect domestic banks in China now have access to the London FX market, recognised as the leading centre for global FX trading. The new service is a partnership between London's R5 and the Shanghai Clearing House, announced by UK Chancellor Philip Hammond in December as part of the 9th UK China Economic Dialogue. 

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