The offering is expected to be made available for client testing during the second half of 2024
FinTech BizNews Service
Mumbai, December 7, 2023: CME Group, the world's leading derivatives marketplace, on Wednesday announced that it will launch CME FX Spot+, a new, all-to-all spot FX marketplace that will connect cash market participants with the company's FX futures liquidity. The offering is expected to be made available for client testing during the second half of 2024.
For the first time, spot FX participants will be able to access CME FX futures liquidity in OTC spot terms within an open, transparent, central limit order book environment, while FX futures market users will see expanded access to OTC FX liquidity. CME FX Spot+ leverages FX Link, a liquid and tradable spread between OTC spot FX and CME Group's FX futures, to connect liquidity between the two trading environments.
The new offering will be accessible via the CME Globex network, including via existing EBS Market Globex connectivity which will provide the global EBS spot FX customer base with seamless access to this unique and complementary new liquidity pool.
"Alongside our FX futures and our EBS offerings, this new spot FX marketplace - and its unique connection with our FX futures liquidity – is the latest example of how having futures and spot markets at CME Group can support accessible, centralized liquidity within the highly fragmented FX market," said Paul Houston, Global Head of FX Products, CME Group. "CME FX Spot+ will increase access, transparency and trading opportunities across spot FX and FX futures markets, which will benefit market participants across both venues."
As the world's leading derivatives marketplace, CME Group (www.cmegroup.com) enables clients to trade futures, options, cash and OTC markets, optimize portfolios, and analyze data – empowering market participants worldwide to efficiently manage risk and capture opportunities. CME Group exchanges offer the widest range of global benchmark products across all major asset classes based on interest rates, equity indexes, foreign exchange, energy, agricultural products and metals. The company offers futures and options on futures trading through the CME Globex® platform, fixed income trading via BrokerTec and foreign exchange trading on the EBS platform. In addition, it operates one of the world's leading central counterparty clearing providers, CME Clearing.
