In this episode of the ACI UK podcast series, the spotlight turns to the growing role of FX futures and how they are reshaping the broader currency trading landscape. Hosts Noel Singh and Kim Myers are joined by Phil Hermon (CME Group) and Marc Putter (Transtrend) to explore the evolving relationship between exchange-traded futures and the traditional OTC FX market.

The discussion begins by unpacking the fundamental differences between cash FX and futures - particularly around central clearing, risk management, and market structure - before moving into the rapid growth of FX futures in recent years. The guests examine what’s driving this shift, from regulatory pressures and capital efficiency to advances in trading technology and increased accessibility for a wider range of market participants.

A key theme throughout t ...