Derivs - FX

Bank Indonesia plans to regularly hold fx swap auctions in a bid to ensure investors there have greater access to fx swaps as hedging tools as more investment capital enters the country.

Banco Bilbao Vizcaya Argentaria in Hong Kong has internally promoted Stanley Chan to head of fx trading Asia.

GFI Group has applied to the U.S. Commodity Futures Trading Commission to become a multi-asset swap execution facility under Dodd-Frank.

Foreign institutions are concerned they will have to enter a foreign financial institution agreement with the U.S., or otherwise suffer a withholding tax on their derivatives transactions, if intergovernmental agreements are not concluded before the implementation date of the Foreign Account Tax Compliance Act.

The Bank of Thailand has lifted its offshore investment quota for both institutional and non-institutional investors, making it easier to invest in exchange and over-the-counter derivatives and other instruments.

Investors have been shorting the New Zealand dollar against the U.S. dollar via forwards over recent days as a hedge against flatteners on the New Zealand rates curve. This strategy has received increased interest since talk of tapering the U.S. bond buying program began and some emerging market funds were deploying the strategy prior to the Kiwi spurt. Now investors are looking at other overvalued G10 currencies.

Tradition-ICAP is testing the first request for quote service that allows players to trade over-the-counter fx options electronically.

The Bank of Thailand has lifted its offshore investment quota for both institutional and non-institutional investors, making it easier to invest in exchange and over-the-counter derivatives and other instruments.

Gerrard Katz, head of fx trading, Asia, at Banco Bilbao Vizcaya Argentaria in Hong Kong, has left the firm.

The European Securities and Markets Authority is looking for clarification from market participants on which fx derivatives should be subject to mandatory clearing, specifically those that would benefit from the mitigation of counterparty credit risk through a clearinghouse.

Goldman Sachs’ net revenues in equities, excluding reinsurance, jumped 23% year-on-year, driven by higher net revenues in derivatives and cash, according to its Q2 2013 earnings.

The U.S. Commodity Futures Trading Commission issued late Monday night an update to its latest cross border swap exemptive order, giving a reprieve to foreign branches of U.S. swap dealers located in jurisdictions, such as Singapore, that were not covered in the original order issued late last Friday.