The last dealer market: a non-bank desk in FX options
FX options remains one of the last major asset classes still organised around the traditional dealer model. For Optiver, that has meant building deep relationships in the interdealer market, where we provide banks with additional liquidity and capacity to manage risk. Those relationships remain central to our business and to the way liquidity is distributed across the market. But as the market structure evolves, we are also starting to build more direct relationships outside the interdealer market - adding another route to liquidity.
