THE
TRADETECHFX
THE OFFICIAL NEWSPAPER OF TRADETECH FX 2025
Daily
CHRISTIAN BEINERT, MEAG P. 16
MARKUS EBNER, QUONIAM ASSET MANAGEMENT. P. 17
STÉPHANE XAVIER, NEUBERGER BERMAN, P. 18
DARIO PONS, CARDANO, P. 19
PETER WELSBY, MANULIFE INVESTMENT MANAGEMENT, P. 20
MEAG | MANULIFE INVESTMENT MANAGEMENT | QUONIAM ASSET MANAGEMENT | NEUBERGER BERMAN | CARDANO
Liquidity provision during tariff-led volatility
The unveiling of new US trade 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 buyside trading desks fared during this period and how concerns about the availability of FX liquidity played out.
The unveiling of new US trade tariffs in April sent shockwaves through global markets, sparking record levels of FX activity. For traders, this created both opportunity and risk: volumes surged but liquidity provision came under pressure, rekindling concerns about so-called liquidity mirages. Periods of tariff-driven uncertainty tend to trigger heightened volatility, as market participants scramble to reassess currency exposures and reposition portfolios. In such moments, the reliability of liquidity provision is tested more sharply than in routine conditions.
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