The official newspaper of TradeTech FX Europe 2023
Editor’s note:
It’s that time of year again, where we find ourselves in the thrall of event season and reunited in Paris at the industry’s most prominent foreign exchange conference. TradeTech FX offers those operating within the world of foreign exchange an opportunity to congregate for idea sharing and networking, and The TRADE is delighted to bring you this official magazine, designed to accompany and guide you through the event!
This year has paved the way for some of the most extensive evolution the foreign exchange market has seen in decades. Almost recovered from the volatile macroeconomic fallout that followed the invasion of Ukraine last year, foreign exchange traders are now facing a new challenge, and this time it is coming from within the back-office.
The shift to T+1 settlement is set to make waves in the market with the expectation that it will in some way disrupt current methods to source liquidity, net flows, match trades, and ensure best execution. The changes will require an operational overhaul for many firms to ensure business continues as usual. US implementation is currently set for May 2024, however whether or not the rest of the world will follow suit is yet to be seen, meaning divergence could once again be on the cards.
The prospect of T+1 comes against the backdrop of an already tempestuous and black swan event-prone market. Economies globally are continuing to diverge as central banks’ decisions intended to curb inflation around the world begin to show their effects. Meanwhile, the last few months have played host to swathes of technology- focused collaborations across venues and the buy- and sell-side as appetite for increased electronification and new technologies ramps up – in particular in the clearing space.
This magazine touches on all the key topics from this year’s conference, spanning technology, regulation, post-trade, liquidity and data. It contains the latest major FX news and moves, a plethora of exclusive buy-side interviews with speakers from the event, a cover interview exploring the realities of the shift to T+1 settlement, thought leadership content and the official conference agenda.
As always keep your eyes peeled for The TRADE team on the ground and don’t hesitate to come and say hello. Bonne conférence!
Annabel Smith
Editor, The TRADE
The TRADETech Daily 2023