Spot market
All that glisters: precious metal volumes surge on FX venues
Gold and silver liquidity on foreign exchange trading platforms improves as more dealers link precious metals with e-FX
Internalisation trend driving FX market opacity to new highs
FX Markets Europe: Dealers say they internally matched up to 1,500% more volume than public markets during April
European exporters add flexibility to FX hedges
Corporates with USD exposures have been reducing hedging tenors and adding optionality
XTX alleges Currenex entered own trades ahead of users
Market-maker claims venue used triangular arb tool to trade before users
CFTC sprints to approve spot crypto trading by year-end
Acting chair Pham also expects tokenised collateral to be up and running by then or early 2026
Do BIS volumes soar past the trend?
FX market ADV has surged to $9.6 trillion in the latest triennial survey, but are these figures representative?
SNB researchers test LLM-based FX trading strategy
Meta’s Llama 3.1 comes out top predicting G10 currency sentiment based on news articles
Hedge before the fix to avoid predatory traders – research
In simulations, slow and steady hedging for 4pm benchmark orders shaved up to 25% from costs
CME boosts FX access via new vendor partnerships
Tie-ups with Trading Technologies and Integral to bring new liquidity into EBS and Spot+ venues
How FX traders searched for the light amid tariff turmoil
Traders found consistent and actionable pricing in lit FX spot and futures order books during volatility rollercoaster in Q2, finds CME
Crackdown on FX vendors could raise costs for dealers
MTF designation could cost aggregators and EMSs $3m to set up and $1m in annual maintenance
From fringe to forecast: why bitcoin now moves like a currency
LMAX data finds crypto prices react to macro market events as quickly as EUR/USD
LMAX: stablecoin bill sets stage for FX and crypto convergence
CEO David Mercer on what the Genius Act means for markets, and where the venue’s FX business goes next
How FX execution adapted to tariff turmoil
BestX analysis shows API trading surged, but ‘get done’ and RFQ trading was surprisingly light
BNP Paribas eyes selective algo white label tie-ups
The French bank struck its first FX algo white-labelling partnership with Lloyds
Bank FX market-makers ramp up AI usage
Barclays applies tech to predictions, while HSBC and ING look at pricing accuracy
Best Asia FX spot house: UBS
Thanks to its significant investments to boost spot liquidity in Apac, UBS was able to continue quoting competitive prices throughout bouts of extreme volatility in the latter part of 2024 and first quarter of 2025
Disclosed trading an oasis in the FX liquidity ‘mirage’
LPs say growth of relationship-based trading bolstered market during April volatility
What drove the Taiwan dollar surge?
Foreign speculators, carry unwinds and central bank inaction fuelled the 10% move, not just life insurers, say traders
FX liquidity ‘worse than Covid’ amid tariff volatility, dealers say
Available liquidity for single clips dropped to as low as $20 million ahead of tariff pause