As market structure evolves, the balance between OTC FX and exchange-traded products is shifting. Rising capital costs, expanding futures and options offerings, and renewed interest in on-exchange liquidity are prompting buy-side desks to reassess when bilateral trading remains optimal- and when listed products offer a genuine edge. This session examines how futures, listed FX options and EFRP mechanisms compare with OTC markets in terms of liquidity depth, flexibility, transparency and capital efficiency. Speakers will discuss where exchange-traded instruments can complement OTC flows, how they fit into execution approaches, and what traders should consider when combining bilateral and on-exchange liquidity.

As liquidity becomes more fragmented and execution behaviour varies widely across venues, execution intelligence is becoming a core competitive edge for FX trading desks. Traders increasingly rely on real-time signals such as fill ratios, markouts, reject patterns and timing analytics to understand where genuine liquidity resides- and when to avoid unnecessary slippage. This session explores how buy-side desks are building practical execution-intelligence frameworks that unify data across RFQ, streaming and algo workflows, how LPs are adapting pricing and responsiveness, and how enhanced analytics are driving smarter routing decisions. Speakers will examine what “good” liquidity looks like today, how to benchmark LP performance, and which intelligence tools genuinely improve execution outcomes.