David Mercer, LMAX Exchange CEO, shares his thoughts on the evolving market structure in FX and the current drive by politicians and regulators for greater transparency to create a more efficient market and encourage trust. Mercer comments there is already an abundance of transparency within the FX market and that trust should be the focal point, as it is the client’s prerogative whether they choose to trade on a particular platform or pool. This can be based on factors such as the price received from the provider and/or the execution suitability for particular business needs. He continues, a one size fits all model (similar to the Equity markets) will not work in FX due to the size of the market, and the key is the trust between the customer and provider.