Modelling Hedging Ahead of the Fix: Does it Work?
August 12, 2025
“Pre-hedging”, or “hedging ahead of the Fix” as it is referred to around the major FX benchmark fixes, remains a… Read More »
Channels provides in-depth analysis on the latest developments in to the FX and crypto industry. It will carry features on market structure and trends in trading as well as contributed articles from leading industry players on the big issues.
“Pre-hedging”, or “hedging ahead of the Fix” as it is referred to around the major FX benchmark fixes, remains a… Read More »
It was another subdued month-end Fix in terms of market impact in July, albeit one still offering potential savings of… Read More »
The latest semi-annual FX turnover surveys from five of the world’s local FX committees shows an expected volume surge in… Read More »
Ask nearly anyone working in financial markets how they’re doing, and the answer is some version of “not enough hours… Read More »
In keeping with what was generally a quieter month in markets, potential savings from using a longer month-end fixing mechanism… Read More »
Although markets settled somewhat in May, the heightened volatility, with the associated nervousness, means that market impact at the month-end… Read More »
The introduction of Non-Financial Report Requirements (NFRR) means that in many cases workplace culture is now categorised as yet another… Read More »
Execution costs from using a shorter fixing window rose at the end of what was a busy month in FX… Read More »
By Aled Basey, Head of HausFX & FX Execution Advisory, UK, Deutsche Bank What is it? FX-as-a-Service will mean different… Read More »
Market impact costs rose for the March month-end benchmark fix compared to recent results, although it was very much a… Read More »
Japan has always been an FX centre with a difference – mainly because it was less “international” than London and… Read More »
The arrest last week of a likely rival to Turkish president Erdogan prompted a sharp rally in USD/TRY, which hit… Read More »
A pattern is emerging in the month-end fixes with, for the third successive month, the average savings sitting above $300… Read More »
Although the January month-end Fix showed similar market impact to recent months, there might be some concerns that the world’s… Read More »
Once again, we’ve been trawling through the latest FX turnover reports from the UK, US, Singapore, Hong Kong, Japan, Australia… Read More »
The foreign exchange market has undergone significant changes over the past decade as regulatory mandates, technological advancements, and new entrants… Read More »
Final data for 2024 shows that, thanks to increased volatility and possibly more customers putting their dealers in competition, FX… Read More »
The last 12 months have seen a narrowing of the gap in terms of execution costs from using the WM… Read More »
Jack Linker is celebrating 50 years in the FX industry, a period that has seen tremendous change. Colin Lambert sat… Read More »
What does a second Trump term mean for FX markets? Eva Szalay has been checking on the thoughts of market… Read More »
It’s that time of the year again – when financial organisations create a whole new generation of Accidental Leaders and… Read More »
2024 closed out with a relatively quiet month-end benchmark fix, with savings from using a longer calculation window largely in… Read More »
With only a couple of weeks to go until the end of 2024 it feels like an opportune time for… Read More »
The November month-end FX Fix saw something remarkable – the first time it has occurred in the nearly-four years that… Read More »
IOSCO has published a much-anticipated consultation document on pre-hedging, following a survey of its own members, seeking wider views on… Read More »
Whether we’re aware of them or not, biases shape our perceptions, decisions, and interactions with others. Formed by our experiences,… Read More »
The October month-end provided the second lowest potential savings for using a longer calculation window for the London 4pm Fix,… Read More »
Is there a relationship between success, trust and transparency? Eva Szalay takes a look. It intuitively feels right that the… Read More »
It was another relatively quiet month-end Fix in market impact terms, although one pair did record its highest potential saving… Read More »
Something the FX market witnessed 20 years in spot is emerging in FX options as non-bank players eye the market.… Read More »
State Street is rolling out the next development in its transformation of GlobalLink Digital with the integration of a new… Read More »
The run of relatively subdued month-end FX fixes, in terms of market impact, continued in August, although savings were still… Read More »
Managing people has often been cited as the hardest job of leadership, with two opposing views. Is it a “necessary… Read More »
It’s peak migration season, not just in the Masai Mara but also in the world of FX platforms: major players… Read More »
A new paper published by the Bank for International Settlements (BIS) as part of its Bulletin series, takes an early… Read More »
By historical standards it was a very quiet month end FX 4pm Fix, with the potential savings from calculating over… Read More »
While in recent years the FX platforms have occasionally struggled to match the pace of growth seen in FX markets… Read More »
The latest turnover surveys from the UK and US FX committees indicate that automation continues to grow in the FX… Read More »
In the latest Voice of Experience Column, Ted Holloway discusses the growing issue of data ownership, and also takes a… Read More »
One aspect of the growth in fintechs in foreign exchange markets has been the emergence of independent third-party analytics firms… Read More »
With so much pressure to always do the right thing, be all inclusive, have an engaged and healthy workforce and… Read More »
Amidst a generally quieter month end, with savings below average on offer for using a longer fixing window, there were… Read More »
Whilst it is undeniable that data and analytics advances have greatly enhanced the relationships between FX liquidity providers and customers,… Read More »
The walls are crumbling. In the age-old build vs buy debate the last bastions of the in-house camp are crumbling… Read More »
Just over a year since it upgraded its algo tech stack, Bank of America has published a study of TWAP… Read More »
All dealer-to-client trading in the FX market comes with a degree of tension around the outcomes for each party, and… Read More »
Although still below the average of 2023, May’s month-end Fix provided more serious market impact for users of the five-minute… Read More »
Don’t bother with them, don’t invest in them, don’t throw any resource at it. This is the first in a… Read More »
Smaller technology providers are facing a tough choice as they attempt to adhere to UK and EU rules defining what… Read More »
April continued to relatively subdued start to 2024 when it comes to market impact at the month-end Fix, notwithstanding which,… Read More »
