FX | The Fragmentation of Liquidity in FX Products for Corporates
The liquidity access gap between those that trade FX as an asset class (primarily hedge funds) and corporates and asset managers continues to grow. As the prime brokerage system further evolves, non-bank liquidity, anonymous execution models, and new approaches to credit are creating access to pricing and liquidity that has historically been difficult for corporate treasury desks to reach. For most sophisticated corporate hedgers, liquidity must continue to fall within a structure that can be accessed within existing credit, counterparty, governance, and workflow requirements.
This session brings together members for a candid, two-way conversation with SpectrAxe about where FX liquidity access and execution is headed within the industry and how the corporate world can now participate in its 'defragmentation'. This isn't a product pitch; it's a chance to pressure-test what's coming against what you're actually dealing with day to day.
- Expanding liquidity: How corporates may access liquidity beyond their core relationship-bank panel while preserving existing bank relationships and credit frameworks
- Emerging market bank access: The potential for direct pricing from emerging market banks without their credit risk currencies (Turkey, Brazil, South Africa, etc)
- Reducing information leakage: Whether anonymous, order-driven, all to all execution can address some of the signaling and market-impact concerns associated with bilateral RFQ workflows
Your feedback shapes it: An open discussion on where the model could add value, where it does not, and what evidence or capabilities treasury teams would need before considering adoption