Banks Leaders Panel

The future of the FX spot business

As bid/offer spreads continue to shrink, tech and regulatory costs continue to rise, and flow increasingly internalised by the largest LPs, this raises some fundamental questions about the future of competition in the spot FX market.

• Will there be enough flow in the primary markets to sustain the current number of market makers?

• How could the role of smaller market makers change?

• Will LPs continue to be one stop shops in all time zones?

• How tight can spreads go, and what impacts could it have on the competitive landscape?