The spring Global FX Trading Quorum was kindly hosted by BoA.

When: Wed 25 Feb 2026 12:00 to 14:00 GMT
Where: Bank of America, 2 King Edward St, London EC1A 1HQ (Zoom link available to members based outside of London)

Meeting insights

The Global FX Trading Quorum examined how collateral optimisation, balance sheet efficiency and electronification are reshaping the economics of FX trading and broader market structure.

Participants highlighted a significant shift in how trading cost is increasingly being defined, introducing the concept of “Cost of Trading 3.0”, where collateral usage, funding efficiency and capital allocation are becoming as strategically important as spread and execution price.

The session also explored the electronification of FX options markets, with participants noting that while electronic execution continues to expand within standardised products, FX options markets retain significant structural complexity and continue to rely heavily on hybrid execution models.