Phil Hermon

Phil Hermon

Executive Director of FX Products CME Group

Phil Hermon serves as an Executive Director of FX Products at CME Group and is based in London. He is the global head of growth and execution for FX, which encompasses FX Futures and Options, Spot+, EBS Market and EBS Direct. His responsibilities include business and product development, go to market initiatives, and relationship management for the global FX business.

Before joining CME Group, Phil served in various roles across sales, client solutions, derivatives operations and relationship management at both Morgan Stanley and Natwest Markets.

Prior to his career in finance, Phil was a Captain in the Royal Tank Regiment within the British Army and holds a bachelor's degree in business studies from the University of Sheffield.

Main Day 1 | 16th September

2:50 PM OTC vs Listed Execution Panel: OTC vs on-exchange execution: How can futures and listed FX options complement bilateral liquidity and improve price discovery?

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.

Check out the incredible speaker line-up to see who will be joining Phil.

Download The Latest Agenda