FXswapX

FXswapX is solving a $3 trillion-a-day problem.

Interdealer FX swaps – arguably the largest slice of the $9.6 trillion-a-day global FX market – still trades predominantly by voice. The same way it did more than a quarter of a century ago. This outdated approach is expensive, risky, and increasingly untenable: enforcement fines in the last decade have topped $10 billion, with voice trading typically central to violations.

FXswapX brings interdealer swaps into the electronic era, and up to parity with the rest of the global capital markets, with a bank-only dark pool built for efficiency, compliance, and trust. Market makers can lay off risk with their peers while avoiding market impact and information leakage – at a mid-rate they can agree on.