CME Group
announced today (Wednesday) its plans to launch a new spot foreign exchange
(FX) marketplace called CME FX Spot+ in 2024. The platform will connect spot FX
participants directly with CME’s existing FX futures liquidity pool.
CME FX
Spot+ will allow spot FX traders to access CME’s futures liquidity in
over-the-counter (OTC) spot terms using a central limit order book. It will
also give FX futures traders expanded access to OTC FX liquidity . The system
leverages CME’s FX Link, which connects OTC spot FX and CME FX futures trading.
The
marketplace will be accessible through CME Globex and EBS Market, providing
EBS’ global spot FX customer base direct connectivity. According to Paul
Houston, CME Group’s Global Head of FX Products, “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.”
CME stated
that the new spot FX marketplace further builds on their existing FX offerings,
including FX futures, EBS spot FX trading, and central counterparty clearing
services. It aims to support more centralized and transparent liquidity in the
fragmented FX market.
The company
plans to make CME FX Spot+ available for client testing in the second half of
2024. Further details can be found at cmegroup.com.
CME Group’s Record ADV and
Higher Earnings
The company’s
trading volumes have surged in recent months. The marketplace reported record
highs across several key metrics in its November market statistics. Average
daily volume (ADV) reached 28.3 million contracts, a 21% year-over-year
increase and the highest-ever ADV for November.
This
trading volume growth aligns with CME Group’s latest earnings report, which
highlighted increased demand from traders seeking shelter from market
volatility . In Q3, CME Group’s revenue rose to $1.3 billion, and operating
income totaled $820 million. Net income jumped 13.7% to $807.8 million, or
$2.25 per share.
In
addition, after nearly ten years with the London team, Phil Hermon has been
appointed Head of Growth and Execution for CME FX. Previously, he was Global
Lead for FX Futures and EMA Business Lead for OTC Products. Hermon will guide
efforts to expand CME Group’s FX offerings with his deep expertize.
CME Group
announced today (Wednesday) its plans to launch a new spot foreign exchange
(FX) marketplace called CME FX Spot+ in 2024. The platform will connect spot FX
participants directly with CME’s existing FX futures liquidity pool.
CME FX
Spot+ will allow spot FX traders to access CME’s futures liquidity in
over-the-counter (OTC) spot terms using a central limit order book. It will
also give FX futures traders expanded access to OTC FX liquidity . The system
leverages CME’s FX Link, which connects OTC spot FX and CME FX futures trading.
The
marketplace will be accessible through CME Globex and EBS Market, providing
EBS’ global spot FX customer base direct connectivity. According to Paul
Houston, CME Group’s Global Head of FX Products, “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.”
CME stated
that the new spot FX marketplace further builds on their existing FX offerings,
including FX futures, EBS spot FX trading, and central counterparty clearing
services. It aims to support more centralized and transparent liquidity in the
fragmented FX market.
The company
plans to make CME FX Spot+ available for client testing in the second half of
2024. Further details can be found at cmegroup.com.
CME Group’s Record ADV and
Higher Earnings
The company’s
trading volumes have surged in recent months. The marketplace reported record
highs across several key metrics in its November market statistics. Average
daily volume (ADV) reached 28.3 million contracts, a 21% year-over-year
increase and the highest-ever ADV for November.
This
trading volume growth aligns with CME Group’s latest earnings report, which
highlighted increased demand from traders seeking shelter from market
volatility . In Q3, CME Group’s revenue rose to $1.3 billion, and operating
income totaled $820 million. Net income jumped 13.7% to $807.8 million, or
$2.25 per share.
In
addition, after nearly ten years with the London team, Phil Hermon has been
appointed Head of Growth and Execution for CME FX. Previously, he was Global
Lead for FX Futures and EMA Business Lead for OTC Products. Hermon will guide
efforts to expand CME Group’s FX offerings with his deep expertize.
