Bilateral streams slash FX trading costs by 80%, dealers claim

Risk Live: At some banks, 70% of spot is now traded via bilateral feeds

High-frequency trading

The market for spot foreign exchange has largely shifted from traditional trading venues to bilateral streams, where transaction costs can be as much as 80% lower for large trades, dealers claim.  

Srichakri Adhikarapatti, global head of electronic FX, rates and credit quant trading at UBS, says “upwards of 70%” of the bank’s spot FX business is now traded bilaterally via electronic interfaces known as APIs.

The primary inducement is price. According to David Leigh, global head of FX spot and

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: