Ten years after the push to shift dealer-to-dealer foreign‑exchange swap trading from phones to electronic platforms, more than two‑thirds of interdealer volume still moves through voice brokers.
Increasing pressure on brokerage costs and advancements that enable automated credit‑line management are prompting banks to reassess electronic swap‑trading venues.
“The venues are making a real push – and for all the FX swap banks, to not be thinking about connectivity…,” said an industry participant.


