In its 15th year, FX Week Asia continues to be the must-attend event for foreign exchange market practitioners. Join us on 29 August to expand your network of senior contacts within the industry and …

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The FX Week Best Banks Awards will take place on 18th November in London. As the benchmark for performance in the global FX industry, the FX Week Best Banks Awards are the most accurate indicator of …

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This white paper explores the impact of the financial crisis on FX derivatives, the effectiveness of clearing, compression and optimisation tools in minimising costs, and what lies ahead for FX de…

This white paper proposes the blueprint for FX TCA methodology that enables market participants to calculate and compare trading costs across both firm and last look liquidity.

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Artificial intelligence (AI) is an increasingly important feature of todays RiskTech marketplace. In this new report, Chartis provide a spotlight on the market and vendor landscape for AI solutio…

Welcome to Big Bets, a briefing from Chartis Research that explores the five big themes we believe will shape the RiskTech marketplace in 2019.

Chartis Research provides unrivalled, impartial and deep research and analysis on all aspects of the risk technology space, supporting the worlds top decision makers with outstanding risk technology insight and advice.

The Role of Currency in Institutional Portfolios

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Bank of Thailand voices concerns over baht appreciation

FX Week July 15 2019 digital download (exclusive to FX Week Corporate subscribers)

FX safe in latest job cuts at Deutsche, for now

Flow Traders hires head of trading in new FX push

Millward joins Galinovs new startup, 24 Exchange

Westpac hires OFlaherty as head of digital solutions

Stable relationships still vital in FX, say asset managers

HKMA, PBoC extend CNY access to HK Stock Connect investors

Asset managers urged to commit to FX Global Code

Court considers Wild West practices in HSBC frontrunning case

E-money poses serious threats to financial system, says IMF paper

PBoC gets go-ahead from Chinas cabinet to develop CBDC

UBS exec: first trades via USC could take place this year

Swissquote: Fed rate cut would be boon for EM currencies

City Index: US and China truce, global outlook weighs on Fed

Danske Bank: Fed cuts and trade war truce will weaken US dollar

Wells Fargo: UK Conservative leadership race will hit sterling

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HSBC voted Best FX prime broker bank of the year at the 2019 FX Week e-FX Awards

Vincent Bonamy: HSBC structured prime services to help clients overcome balance sheet, liquidity and credit hurdles

Amid turbulence in the foreign exchange prime brokerage landscape over the past year, market participants are unsure how secure their position is with some prime brokers, who have started recalibrating their prime services on the back of significant losses.

HSBC, which was voted BestFXprime broker bank of the year at the 2019FXWeeke-FXAwards, remains committed to its core client base large hedge funds and asset managers as it hones its resources to cater to their needs.

In the past 12 months the bank has proceeded to integrate itsFXprime brokerage services under the wider foreign exchange wheel of services it offers, in order to deliver greater synergies and provide the stability its clients seek in unsettling times.

Weve developed a structuring capacity withinHSBCto provide the value-add, and help clients navigate the ever-changing regulatory landscape and overcome the hurdles they face on their balance sheet, liquidity and credit, says Vincent Bonamy, head of global intermediary services atHSBC.

To guide them through those challenges,HSBChas developed solutions to improve the execution quality and capital efficiency of its clients, while maintaining the ethos upon which the banks prime brokerage services were built nearly a decade ago.

These services are more important now than theyve ever been, says Gemma Laman, global head of sales forFXprime brokerage atHSBC. Whereas price was very much the focus 10 years ago, she says that when considering a prime broker these days, clients are looking for a partner who is going to come up with the innovative solutions to support them in their unique requirements.

Clients are not just looking for a service provider who is going to process their trades, she says. They are looking to find a strategic partner to support them.

Clients need to trust that you are not going to change margin requirements, change pricing or pull out of the business. Thats a strength we have

Its about credit worthiness, balance sheet strength and partnership for the long term, says Vivek Sarohia, global head of structuring forFXprime brokerage atHSBC. In the end, they are placing their derivatives transactions and capital via initial margin through one counterparty. They dont want to be in a situation where thats not sustainable.

Clients need to trust that you are not going to change margin requirements, change pricing or pull out of the business, says Laman. Thats a strength we have. They trust that we are here and here to stay.

Laman points out that the push for best execution in recent years has increased interest in prime brokerage services, as clients can benefit from centralising their trading through one counterparty while fulfilling their best execution requirements.

Uncleared margin rules have also brought the benefits of prime brokerage to the fore, she says.

The operational intensity and burden for those market participants caught under the fourth and fifth phases of the uncleared margin rules are going to be quite large, Sarohia says.

A prime broker can help create efficiencies in that regard. You have one partner with whom you are settling and exchanging margin. That, in itself, is a big driver, he adds. Indeed, one of the key reasonsFXprime came about in the first place is because of the credit aspect, but I see operational efficiency too as a big driver.

Most innovative bank e-FX trading platform/Bank algo trading tech provider of the year: BNP Paribas

Best post-trade services provider of the year: Baton Systems

Best clearing services provider of the year: LCH ForexClear

Best e-FX software provider/Best trading technology vendor of the year: Broadway Technology

Independent algorithmic trading technology provider of the year: Pragma Securities

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