Bank of America picked up the currency derivatives house of the year award in sister publication Risk.net’s annual awards on November 28, while HSBC was named prime broker of the year for its work in the foreign exchange space.
The emerging markets carry trade, implemented via FX options, was the big story of the year, and BofA had spent two years restructuring its business to be able to take advantage of the shift. The US bank merged its G10 and emerging markets desks and allowed traders to
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