COUNTERPARTY FILE · last re-checked 2026-09
Société Générale (SG Markets FX) — institutional liquidity provider
This record reflects the current standing of Société Générale with noted gaps in licensing disclosures.
Licence, read literally
| 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.
Residuals a counterparty carries
Unpublished licensing information
Societe Generale's ACPR and FCA licence numbers are not published on their legal-information page.
Source: firm disclosures page
Self-measured liquidity claims
SG's characterization of 'deep FX liquidity' is self-published marketing without independent verification.
Source: selfMeasured
The claims ledger
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 disclosure, not as a defect.