Contents:
THETRADETECHFX DAILY
Contents:
3 Editor’ s note
4 Latest news and people moves Keeping you informed on key industry developments
8 In depth: Liquidity provision during tariff-led volatility
The unveiling of new US trading tariffs in April sparked record levels of FX turnover across markets, putting liquidity provision to the test and refocusing attention on the current state of the FX liquidity landscape. The TRADE explores how well buy-side trading desks fared during this period and how concerns about the availability of FX liquidity played out.
16 The next stage for options automation The TRADE sits down with CHRISTIAN BEINERT, FX trader at MEAG, to explore the next stage of options trading including new automated strategies, clearing, and the need for greater collaboration between OEMS and trading platforms.
17 LLMs set to play an increasingly important role in FX traders’ day-to-day
The TRADE sits down with MARKUS EBNER, head of multiasset at Quoniam Asset Management, to unpack the trends making the most impact on FX trading, delving into what’ s front of mind when generating alpha, the impact AI is set to have on established processes, and how all this change is leading to an evolution in traders’ skillsets going forward.
18 Local expertise key for capitalising on untapped opportunities in frontier markets
The TRADE catches up with STÉPHANE XAVIER, emerging markets FX and rates trader, Neuberger Berman, to dissect the current state of play when it comes to frontier markets, highlighting the valuable diversification opportunities they present, decreasing complexity further opening the door to investors, and what to keep an eye on going forward.
19‘ The ultimate goal is a self-optimising execution ecosystem’
The TRADE sits down with DARIO PONS, trader at Cardano, to unpack the most important factors when it comes to FX execution strategies, including how unique datasets are being approached, auto-execution thresholds, and the future outlook for optimisation-focused innovations.
20 Ensuring traders are alpha generators PETER WELSBY, head of Europe FICC trading at Manulife Investment Management, sits down with The TRADE to explore how trading desks are evolving with the times and continuing to add value, touching on harnessing data, leveraging artificial intelligence, and building trust with portfolio managers.
22 The full TradeTech FDX 2025 agenda
Autumn in Barcelona
And suddenly, in the blink of an eye, it’ s Autumn again. As Q3 rolls through, we’ re back in Barcelona for the TradeTech FX conference, offering those of us with a passion for foreign exchange a chance to unpack the year’ s events so far and explore what the remainder of 2025 may have in store. What a year it has been. The macroeconomic and geopolitical landscapes have been dominated by headlines from the US. Last year it was T + 1. This year? Tariffs. Trump’ s tariff saga has been the topic a la mode for the last few months and investors will no doubt be keeping a close eye on how this story plays out for inflation, interest rates and global trade. In particular given the recent findings by a federal appeals court that many of these agreements could have been made illegally. Meanwhile, the ongoing battle between the White House and Federal Reserve is expected to have an impact on the US dollar. This special edition dedicated to the TradeTech FX conference explores all this and more with a cover feature exploring the role of traditional and non-traditional liquidity providers during tariff-led volatility, the latest foreign exchange focused news and people moves and a full conference agenda. It wouldn’ t be a TRADE edition without some exclusive buy-side content and included within are interviews with buy-side conference speakers from MEAG, Manulife Investment Management, Quoniam Asset Management, Cardano, and Neuberger Berman exploring topics including options automation, the use of large language models, the future of the FX desk and more. As usual it was a delight putting this special edition together and team TRADE would like to extend a huge thank you to all those who contributed to it. Have a wonderful conference and keep an eye out for the team on the ground at the event over the next few days.
Annabel Smith Editor
The TRADE
The official newspaper of TradeTech FX 2025 TheTradeNews. com 3