2026 · Evidence audit

Société Générale (SG Markets FX) — institutional liquidity provider

Société Générale is a Tier-1 bank headquartered in Paris, founded in 1864. It offers FX liquidity via several electronic platforms. The self-measured claim of 'deep FX liquidity' is not independently verified and should be approached with caution.

Societe Generale S.A. · Paris, France · last re-checked 2026-09 · 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-1 = FCA/ASIC/CFTC-class supervision, tier-2 = CySEC/FSC-Mauritius/MFSA-class, tier-3 = offshore registration. A tier-2 licence is genuine supervision without an investor compensation scheme — never misread it as tier-1 protection.

What the firm commits to

Claims specific enough to be falsified — and the ones that remain the venue's own measurement.

Testable claims

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 diligence than one that doesn't. The refusal list is treated here as a disclosure, not a defect.