As liquidity fragments across ECNs, bank streams and non-bank market makers, execution outcomes are becoming less predictable- with fill rates, rejects and information leakage varying by venue and LP. This session explores how buy-side desks decide where to send flow, distinguish differentiated from recycled liquidity, and assess when direct streams outperform multi-dealer platforms. Speakers will discuss how last-look behaviour, reject patterns and fill consistency shape decisions, alongside constraints such as credit and connectivity. The session will also examine how data, analytics and smart routing tools support more informed execution and improve consistency across liquidity pools. 

Automation is expanding across FX workflows, but traders remain divided on how far auto-execution can realistically go- and what should be automated next. This session examines how desks are extending automation for low-touch flow, setting thresholds, and building rules that reduce manual workload without compromising control. Speakers will discuss where automation improves outcomes, where it can introduce new risks, and why certain areas- including swaps and less liquid pairs- continue to lag. The panel will explore how desks monitor automated flow, when human intervention remains essential, and what traders expect from the next iteration of platform functionalities and tools. 

FX swaps remain one of the least transparent areas of the FX market, with pricing dispersed across bilateral streams, RFQs and voice channels. Traders face challenges building reliable curves, comparing dealers, and understanding roll and turn costs- and limited swaps-specific TCA makes it hard to assess execution quality or refine future decisions.

This panel examines how improved data aggregation, curve construction, benchmarking and analytics can strengthen transparency and support smarter tenor, routing and pricing choices. Speakers will discuss what high-quality swaps data should look like, how to overcome fragmentation, and which practical tools execution teams can use today to enhance swaps pricing and decision-making.

Corporate FX flows are shaped by internal structures as much as by market conditions, with execution behaviour differing significantly between centralised and more decentralised treasury models. This interactive session brings together two corporate perspectives to compare how exposures are identified, approved and hedged across different organisational setups. The discussion will walk institutional trading desks through practical differences in forecasting cycles, approval chains, execution methods (RFQ, streaming and algos), and how exceptions such as M&A activity or less liquid markets are managed. Designed to demystify corporate behaviour, clarify execution patterns and improve understanding of how corporate FX flows enter and move through the market.