This whitepaper argues that the FX Swaps market is at an inflection point and breaks down the structural pressures being exerted on this marketplace, outlining:

• Why high-quality data is becoming non-negotiable for price discovery
• How electronification is reshaping liquidity and workflow
• Why credit and capital management are now front-and-centre for trading desks
• Why banks want a primary FX Swaps venue with a recognized reference rate