More interdealer e-trading needed to support FX swap streaming

- By Emma Siponmaa
- 14 Nov 2025

Dealers say more electronification of the interdealer foreign exchange swap market is needed to allow the dealer-to-client market to move towards streaming prices.

Ozgun Unal, head of e-FX distribution for Europe, the Middle East and Africa at UBS, said dealer-to-client swaps trading is increasingly executed electronically, either via request-for-quote (RFQ) or request-for-stream, and eventually it will move to a world where swap prices are live streamed to clients.

“But if you look at the back

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