Foreign Exchange Counterparties
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Australia and New Zealand Banking Group Limited Bank of America, N.A. Barclays Bank Plc Citibank, N.A. Commonwealth Bank of Australia, New York Credit Agricole Corporate and Investment Bank London Credit Suisse AG, London Branch Deutsche Bank AG London Branch Goldman Sachs & Co. LLC HSBC Bank USA, National Association JP Morgan Chase Bank, N.A. Morgan Stanley & Co. LLC MUFG Bank, Ltd. NatWest Markets Plc Royal Bank of Canada Standard Chartered Bank State Street Bank and Trust Company Sumitomo Mitsui Banking Corporation The Bank of New York Mellon The Northern Trust Company UBS AG |
Additions and Removals
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None to date. |
Name Changes
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2018 | |
April 30, 2018 |
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April 30, 2018 |
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2017 | |
May 19, 2017 |
Role of foreign exchange counterparties in New York Fed market operations
Foreign exchange (FX) counterparties are trading counterparties of the New York Fed in its FX operations on behalf of the Federal Reserve and the U.S. Treasury. They are also expected to make reasonable markets for Desk transactions that relate to currency needs of the New York Fed’s official accountholders and agencies of the U.S. government, as needed. The Desk also relies on its FX counterparties for ongoing insight into global financial market developments in its daily market monitoring activities, to support the formulation and implementation of policy by the U.S. monetary authorities. FX counterparties are expected to provide competitive two-way pricing as needed to support the Desk’s periodic foreign exchange operations.
Eligibility criteria
In order to be eligible as a foreign exchange counterparty, a firm must:
Once onboarded, FX counterparties are expected to continue to meet these expectations and eligibility requirements on an ongoing basis.
Firms should contact the New York Fed at fxcounterparty.info@ny.frb.org before formally expressing interest in becoming a foreign exchange counterparty and providing the requested information.
Expression of Interest Form for FX Counterparties
1 A market maker is a firm that continuously provides prices to both buyers and sellers in the market, and stands ready to transact at those prices in various market environments.
Announcements
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