New programme initially launches with a Northbound channel, offering Hong Kong and international investors access to Mainland China’s interbank interest rate swap markets.
Artificial intelligence and machine learning will play a role in the future of the trading desk, but experts put the brakes on a broad application, citing concerns around potential misuse, explainability to stakeholders and appropriate in-house expertise.
Offshore Yuan becomes the fifth currency to be settled between the two banks, with plans for additional currencies to be added in the next few months.
The bank saw reported profit before tax fall $1.6 billion in comparison with the year prior.
Cross-border, cross-CBDC and digital currency, cross-asset, cross ledger, end-to-end securities and foreign exchange transactions successfully executed.
The move marks a change in FX settlements, allowing market participants to significantly reduce their settlement exposure and associated risks.
New head of sales foundational products will be part of the bank’s team responsible for digital products used by its global sales teams, The TRADE can reveal.
The approach will allow clients to choose and connect to their preferred service providers, with the ability to select products and services best suited to their needs.
Tool allows the bank’s traders and risk managers to run “what if” scenarios to identify the capital requirements to cover rating downgrades and default risk of credit products.
eRisk Analytics portal within HSBC’s single dealer platform Evolve will provide traders with key metrics to monitor FX algo performance.