FX Liquidity and Technology — An Ecosystem in Flux

Change is accelerating in the electronic foreign exchange markets. With the fixing scandal and the currency rigging cases resulting in multi-billion dollar bank fines, investors are choosing a mix of liquidity providers or venues in an FX ecosystem that has become more complex.

As transparency and compliance become top of mind, buy-side participants are also seeing a second wave of consolidation ripple through the markets, while new venues keep emerging.