FX Spot+ Trades $1.4 Billion in a Single Day With Over 40 Clients Active in First Month

Rhea-AI Summary

CME Group's new FX Spot+ platform achieved a significant milestone, trading over $1.4 billion in a single day on May 12, 2025. In its first month, the platform attracted more than 40 active clients, including 20 banks new to FX futures trading. FX Spot+ is an innovative all-to-all spot FX marketplace that bridges the gap between cash market participants and CME's FX futures market through implied matching technology. The platform operates in a transparent, anonymous central limit order book environment, providing access to over $100 billion daily traded in FX futures. Major financial institutions including ANZ, Commerzbank, ICBC Asia, and RBC Capital Markets have praised the platform for enhancing liquidity access and bridging spot and futures markets effectively.

Positive

• Successfully attracted 40+ clients in first month, including 20 new banks to FX futures
• Achieved significant trading volume of $1.4 billion in a single day
• Provides access to over $100 billion daily traded in FX futures
• Strong endorsements from major global financial institutions

Negative

• None.

News Market Reaction

+0.09%

1 alert

+0.09% News Effect

On the day this news was published, CME gained 0.09%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

CHICAGO and LONDON, May 22, 2025 /PRNewswire/ -- CME Group, the world's leading derivatives marketplace, today announced that FX Spot+ reached a single-day volume of over $1.4 billion traded in spot and FX futures via implied matching technology on May 12, 2025. In the first month of trading, more than 40 clients have actively traded on the new marketplace, including 20 banks that had previously not interacted with the FX futures market.

A new, all-to-all spot FX marketplace, FX Spot+ connects cash market participants with the ecosystem and liquidity of the company's FX futures market, enabling OTC spot traders to seamlessly interact with the futures market via an anonymous, transparent, central limit order book environment that operates totally in OTC spot terms.

"The launch of FX Spot+ has gotten off to a strong start, with the first month of trading seeing participation from a diverse set of global clients with different trading strategies and across the full range of currency pairs available on the platform," said Paul Houston, Global Head of FX Products, CME Group. "We're extremely pleased with the reception for this innovative new platform. We look forward to supporting more clients with their first trades, growing the ecosystem, and enhancing trading opportunities in the process."

"The FX market continues to be hugely fragmented, which can pose challenges to sourcing liquidity across the different time zones - particularly in times of heightened market volatility," said Luke Marriott, Head of eFICC, ANZ. "FX Spot+ is an excellent addition to our existing OTC market access as it augments the strong liquidity available on other primary CLOBs such as EBS Market by giving us access to the $100 billion+ a day traded in FX futures but in spot format, improving our ability to manage inherent FX risks and customer execution."

"FX Spot+ provides spot trading desks with simple access to the FX futures market," said Michael Driscoll, Head of eFX Spot Trading Europe, Commerzbank. "Through implied pricing in the futures market, FX Spot+ enables our spot orders to reach a wider audience offering opportunities for additional business."

"CME FX Spot+ reshapes the spot FX trading ecosystem through futures-derived liquidity, effectively filling liquidity gaps in traditional spot markets during off-peak trading hours and mitigating liquidity drought risks under extreme market conditions," said Jimmy Jim, Managing Executive Director & Head of Global Markets, ICBC Asia.

"Although the FX market already hosts a wide range of trading venues, we believe FX Spot+ stands out due to its innovative capability to bridge the spot and futures markets," said Kevin Love, Global Co-Head of eFX Trading Products, RBC Capital Markets. "By democratizing access to the highly liquid FX futures market, they have created a truly centralized source of firm liquidity that is complementary to other venues."

For more information, visit: https://www.cmegroup.com/markets/fx/fx-spot-plus.html.

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.

CME Group, the Globe logo, CME, Chicago Mercantile Exchange, Globex, and E-mini are trademarks of Chicago Mercantile Exchange Inc.  CBOT and Chicago Board of Trade are trademarks of Board of Trade of the City of Chicago, Inc.  NYMEX, New York Mercantile Exchange and ClearPort are trademarks of New York Mercantile Exchange, Inc.  COMEX is a trademark of Commodity Exchange, Inc. BrokerTec is a trademark of BrokerTec Americas LLC and EBS is a trademark of EBS Group LTD. The S&P 500 Index is a product of S&P Dow Jones Indices LLC ("S&P DJI"). "S&P®", "S&P 500®", "SPY®", "SPX®", US 500 and The 500 are trademarks of Standard & Poor's Financial Services LLC; Dow Jones®, DJIA® and Dow Jones Industrial Average are service and/or trademarks of Dow Jones Trademark Holdings LLC. These trademarks have been licensed for use by Chicago Mercantile Exchange Inc. Futures contracts based on the S&P 500 Index are not sponsored, endorsed, marketed, or promoted by S&P DJI, and S&P DJI makes no representation regarding the advisability of investing in such products. All other trademarks are the property of their respective owners.

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View original content:https://www.prnewswire.com/news-releases/fx-spot-trades-1-4-billion-in-a-single-day-with-over-40-clients-active-in-first-month-302463013.html

SOURCE CME Group

FAQ

What is CME Group's FX Spot+ platform and how does it work?

FX Spot+ is an all-to-all spot FX marketplace that connects cash market participants with CME's FX futures market liquidity through implied matching technology, allowing OTC spot traders to interact with futures markets via an anonymous, transparent central limit order book.

How much trading volume did CME's FX Spot+ achieve in its first month?

FX Spot+ reached a single-day trading volume of over $1.4 billion in spot and FX futures on May 12, 2025.

How many clients are using CME's FX Spot+ platform?

Over 40 clients are actively trading on FX Spot+, including 20 banks that had not previously participated in the FX futures market.

What are the key benefits of CME's FX Spot+ platform?

FX Spot+ provides access to $100 billion+ daily FX futures liquidity in spot format, helps fill liquidity gaps during off-peak hours, offers anonymous trading, and bridges spot and futures markets through a centralized source of firm liquidity.

Which major financial institutions are using CME's FX Spot+?

Major institutions using FX Spot+ include ANZ, Commerzbank, ICBC Asia, and RBC Capital Markets, who have endorsed the platform for its innovative capabilities and liquidity benefits.