VENUE FILE · filed 2026-09 · last re-checked 2026-09
Société Générale (SG Markets FX) — the liquidity layer, one venue at a time
Société Générale provides electronic access to deep FX liquidity through its SG Markets platform, serving banks, brokers, and asset managers across multiple asset classes.
Societe Generale S.A. · Paris, France · evidence score 98/100
Licence, read on the register
| Regulator | Licence number | Jurisdiction | Tier | Source |
|---|---|---|---|---|
| ACPR | not verified | France | tier-1 | open source ↗ |
| ECB (prudential supervision) | not verified | EU | tier-1 | open source ↗ |
| FCA (UK branch, Societe Generale London Branch) | not verified | UK | tier-1 | open source ↗ |
Tier classification follows the same scale as the retail register: tier-2 means real supervision and client-money segregation, without an investor compensation scheme — never misread it as tier-1 protection.
The claims ledger
Claims specific enough to be falsified — and the ones that remain the venue's own measurement.
- 3testable claims
- 1venue-measured claims
- 3named data centres
- SG's own page states 'SG Markets Foreign Exchange is a fast, secure and reliable way to electronically access Societe Generale's deep FX liquidity' via its online trading platform (info.sgmarkets.com/en/solutions/financial-institutions/service/foreign-exchange-products)
- SG Markets FX one-pager describes the platform as offering pricing and execution on G10 and Emerging Markets (content.sgmarkets.com/E_FX_2024_ONE_PAGER)
- SG's wholesale-banking FX-for-corporates page describes 'electronic FX liquidity provision' through a dedicated corporate sales team (wholesale.banking.societegenerale.com/en/solutions/markets/fixed-income-and-currencies)
Claims we cannot verify from outside
- 'deep FX liquidity' characterisation is self-published marketing
Perimeter and coverage
| Asset classes | Venues | Connectivity | Clients accepted | Explicitly refused |
|---|---|---|---|---|
| FX spot, FX forwards, FX swaps, NDFs, FX options, G10 and Emerging Markets | SG Markets Foreign Exchange (online trading platform), SG Delta (FX derivatives online platform), FX Bridge (options liquidity provision, third-party platform) | FIX, SG Markets web platform, SG API | Banks, Brokers, Asset managers, Hedge funds, Corporates | Retail clients |
A firm that publishes its own negative space — who it refuses, where it is not licensed — is materially easier to assess than one that doesn't. The refusal list is treated here as disclosure, not as a defect.
What the desk watches next
The follow-up plan attached to this file — each item re-checked on a future pass, dated and kept falsifiable.
- Verification of self-measured liquidity claims
- Impact of Tier-1 licensing on service scope