CME Group to Launch FX Spot+ to Enable Spot FX Participants Access FX Futures Liquidity

On December 6, 2023, the global leading derivatives marketplace CME Group announced its plan to launch CME FX Spot+, a new, all-to-all spot FX marketplace. The platform will connect cash market participants with the company's FX futures liquidity. 

For the first time, spot FX participants will be able to access the liquidity of CME FX futures in OTC spot terms in an open, transparent, central limit order book environment, and FX futures market users will have broader access to OTC FX liquidity. CME FX Spot+ utilizes FX Link to connect liquidity between these two trading environments. FX Link is CME’s liquid and tradable spread between OTC spot FX and CME Group’s FX futures.

The new offering is expected to be available for client testing in the second half of 2024, and it will be offered through the CME Globex network, including via existing EBS Market Globex connectivity, which will provide the global EBS spot FX client 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."