CME Group announced today (Wednesday) that it plans to launch a new spot foreign exchange (FX) marketplace called CME FX Spot+ in 2024. The platform will connect spot FX participants directly to CME's existing FX futures liquidity pool.
CME FX Spot+ enables spot FX traders to access CME futures liquidity at over-the-counter (OTC) spot conditions via a centralized limit order book. Additionally, it will provide FX futures traders with expanded access to OTC FX liquidity . The system uses CME's FX Link, which connects OTC spot FX and CME FX futures trading.
The marketplace will be accessible via CME Globex and EBS Market and will provide direct connectivity to EBS's global spot FX customer base. According to Paul Houston, Global Head of FX Products at CME Group, “CME FX Spot+ will improve access, transparency and trading opportunities in the Spot FX and FX Futures markets, benefiting market participants on both venues. “
The CME said the new spot FX marketplace further builds on its existing FX offerings, including FX futures, EBS spot FX trading and central counterparty clearing services. The aim is to support more centralized and transparent liquidity in the fragmented foreign exchange market.
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The company plans to make CME FX Spot+ available for customer testing in the second half of 2024. For more details, visit cmegroup.com.
Record growth and higher earnings from CME Group
The company's trading volume has increased significantly in recent months. The market reported record highs in several key metrics in its November market statistics. Average daily volume (ADV) reached 28.3 million contracts, up 21% year-on-year and the highest ADV ever in November.
This growth in trading volume is in line with CME Group's recent earnings report, which highlighted increased demand from traders seeking protection from the market
volatility . In the third quarter, CME Group's revenue increased to $1.3 billion and operating income totaled $820 million. Net income rose 13.7% to $807.8 million, or $2.25 per share.
Additionally, Phil Hermon has been appointed Head of Growth and Execution for CME FX after almost ten years with the London team. Previously, he served as Global Lead for FX Futures and EMA Business Lead for OTC Products. Hermon will use his extensive expertise to lead efforts to expand CME Group's foreign exchange offerings.
CME Group announced today (Wednesday) that it plans to launch a new spot foreign exchange (FX) marketplace called CME FX Spot+ in 2024. The platform will connect spot FX participants directly to CME's existing FX futures liquidity pool.
CME FX Spot+ enables spot FX traders to access CME futures liquidity at over-the-counter (OTC) spot conditions via a centralized limit order book. Additionally, it will provide FX futures traders with expanded access to OTC FX liquidity . The system uses CME's FX Link, which connects OTC spot FX and CME FX futures trading.
The marketplace will be accessible via CME Globex and EBS Market and will provide direct connectivity to EBS's global spot FX customer base. According to Paul Houston, Global Head of FX Products at CME Group, “CME FX Spot+ will improve access, transparency and trading opportunities in the Spot FX and FX Futures markets, benefiting market participants on both venues. “
The CME said the new spot FX marketplace further builds on its existing FX offerings, including FX futures, EBS spot FX trading and central counterparty clearing services. The aim is to support more centralized and transparent liquidity in the fragmented foreign exchange market.
Continue reading
The company plans to make CME FX Spot+ available for customer testing in the second half of 2024. For more details, visit cmegroup.com.
Record growth and higher earnings from CME Group
The company's trading volume has increased significantly in recent months. The market reported record highs in several key metrics in its November market statistics. Average daily volume (ADV) reached 28.3 million contracts, up 21% year-on-year and the highest ADV ever in November.
This growth in trading volume is in line with CME Group's recent earnings report, which highlighted increased demand from traders seeking protection from the market
volatility . In the third quarter, CME Group's revenue increased to $1.3 billion and operating income totaled $820 million. Net income rose 13.7% to $807.8 million, or $2.25 per share.
Additionally, Phil Hermon has been appointed Head of Growth and Execution for CME FX after almost ten years with the London team. Previously, he served as Global Lead for FX Futures and EMA Business Lead for OTC Products. Hermon will use his extensive expertise to lead efforts to expand CME Group's foreign exchange offerings.
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