CME Group to Introduce FX Tape+ for Enhanced FX Market Transparency
In a significant move set to reshape FX market dynamics, CME Group, a leader in the derivatives marketplace, has unveiled plans to launch its innovative FX Tape+. This new initiative is designed to provide centralized reference prices and a clearer view of market liquidity, sourced from a robust and transparent central limit order book (CLOB) comprising FX futures, EBS Market, FX Spot+, and FX Link.
Scheduled for release later this year, FX Tape+ aims to gather price data from an extensive network of over 1,400 institutions and over 100,000 active participants in the FX market. Paul Houston, the Global Head of FX Products at CME Group, emphasized, "By aggregating price information from our vast network, we are positioned to significantly improve transparency in this often fragmented market. FX Tape+ will empower users by providing a rare perspective on centralized spot and forward liquidity, which is crucial for effectively managing trading costs and validating their strategies."
What sets CME FX Tape+ apart from other pricing sources in the industry is its commitment to utilizing only firm liquidity from CME's spot and futures markets. Existing alternatives often rely on indicative or curated prices that may not offer the same level of transparency. The new tool will initially incorporate reference data for 10 major currencies and present a composite 'true' spot mid-price that integrates liquidity, trades, and mid-rates across the various trading venues within CME Group's ecosystem.
Market participants will benefit from the rapid dissemination of reference data at intervals of just 250 milliseconds, made available via websocket API and historical data files. This feature is expected to greatly enhance the ability of traders to analyze the total costs and execution efficiencies of their transactions in real time.
CME Group has built a reputation as the premier venue for trading futures, options, cash, and OTC markets, equipping clients with the necessary tools to optimize their portfolios and analyze data. The firm enables participants worldwide to manage their risks effectively while seizing potential opportunities in various asset classes, including interest rates, equity indexes, foreign exchange, energy, agriculture, and metals.
Apart from FX Tape+, CME Group operates several other trading platforms: CME Globex for futures and options on futures, BrokerTec for fixed income trading, and EBS for foreign exchange trading. Further enhancing its role in the financial sector, CME Group also manages one of the leading central counterparty clearing services globally with CME Clearing, ensuring a secure trading environment for market participants.
With this launch, CME Group continues to lead the way in fostering greater market efficiency critical for navigating the complexities of the foreign exchange landscape. As the financial markets evolve, the introduction of FX Tape+ represents a forward-thinking solution aimed at meeting the needs of contemporary traders and stakeholders alike, reinforcing CME Group’s commitment to delivering innovative and practical financial services.
For further information, market participants and stakeholders can visit the CME Group’s official website at www.cmegroup.com, where they can find comprehensive details about FX Tape+ and its anticipated positive impact on their trading activities.
Scheduled for release later this year, FX Tape+ aims to gather price data from an extensive network of over 1,400 institutions and over 100,000 active participants in the FX market. Paul Houston, the Global Head of FX Products at CME Group, emphasized, "By aggregating price information from our vast network, we are positioned to significantly improve transparency in this often fragmented market. FX Tape+ will empower users by providing a rare perspective on centralized spot and forward liquidity, which is crucial for effectively managing trading costs and validating their strategies."
What sets CME FX Tape+ apart from other pricing sources in the industry is its commitment to utilizing only firm liquidity from CME's spot and futures markets. Existing alternatives often rely on indicative or curated prices that may not offer the same level of transparency. The new tool will initially incorporate reference data for 10 major currencies and present a composite 'true' spot mid-price that integrates liquidity, trades, and mid-rates across the various trading venues within CME Group's ecosystem.
Market participants will benefit from the rapid dissemination of reference data at intervals of just 250 milliseconds, made available via websocket API and historical data files. This feature is expected to greatly enhance the ability of traders to analyze the total costs and execution efficiencies of their transactions in real time.
CME Group has built a reputation as the premier venue for trading futures, options, cash, and OTC markets, equipping clients with the necessary tools to optimize their portfolios and analyze data. The firm enables participants worldwide to manage their risks effectively while seizing potential opportunities in various asset classes, including interest rates, equity indexes, foreign exchange, energy, agriculture, and metals.
Apart from FX Tape+, CME Group operates several other trading platforms: CME Globex for futures and options on futures, BrokerTec for fixed income trading, and EBS for foreign exchange trading. Further enhancing its role in the financial sector, CME Group also manages one of the leading central counterparty clearing services globally with CME Clearing, ensuring a secure trading environment for market participants.
With this launch, CME Group continues to lead the way in fostering greater market efficiency critical for navigating the complexities of the foreign exchange landscape. As the financial markets evolve, the introduction of FX Tape+ represents a forward-thinking solution aimed at meeting the needs of contemporary traders and stakeholders alike, reinforcing CME Group’s commitment to delivering innovative and practical financial services.
For further information, market participants and stakeholders can visit the CME Group’s official website at www.cmegroup.com, where they can find comprehensive details about FX Tape+ and its anticipated positive impact on their trading activities.
Topics Financial Services & Investing）
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