FX swap market turns to electronic trading as 56% of volume goes digital

The shift matters less as a headline number than as a structural signal: the segment still most reliant on voice brokers is the one where size and discretion matter most, so automation is advancing fastest where execution is standardized and slowest where counterparty judgment is priced in. That asymmetry shapes which venues and liquidity providers gain share, and it leaves the interbank large-position business as the last real holdout. Whether electronic share in swaps keeps converging toward spot levels, or stalls at the interbank barrier, is the open question worth tracking.