The report points to a market environment where uncertainty is persistent rather than short lived.
OTC Market Report 2026
Against persistent volatility and less predictable market conditions, our third annual OTC market survey asked more than 400 market participants globally how markets are changing in practice. The report explores those findings, providing exclusive insights into liquidity, execution under stress and the role of data and indices in market interpretation.
What the report covers
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Volatility and conditional liquidity
Why visible prices do not always reflect executable reality, and why liquidity is increasingly about how and when it can be accessed. -
Execution under stress
How market participants adapt when conditions become harder to read through screens alone, and why off-screen activity becomes more prominent during volatility.
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Data quality and market interpretation
Where confidence in OTC data is improving, where constraints remain and why benchmarks and indices are becoming more important.
Key findings preview
Volatility remains elevated
Liquidity is more conditional
One of the clearest findings is that liquidity remains available, but confidence in visible pricing can weaken in stressed conditions.
Execution behaviour changes under stress
The report suggests that off-screen activity becomes more prominent when volatility rises, as participants place greater value on validation and discretion.
Data quality matters more
As more workflows rely on data-driven interpretation, the issue is no longer just data availability, but whether data is representative enough to support judgement.
Download the full report
Access exclusive insights from our annual OTC market survey on how volatility, liquidity, execution and data are reshaping market interpretation.