CME Group to launch FX Tape+ to centralize FX price discovery
CME Group, the world's leading derivatives marketplace, today announced that it will launch CME FX Tape+ to provide centralized reference prices and a comprehensive view of FX market liquidity from its transparent central limit order book (CLOB) marketplaces, including FX futures, EBS Market, FX Spot+ and FX Link. FX Tape+ is set to launch later this year.
0
External
This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author.
"By bringing together price information from our network of 1,400 institutions and over 100,000 active FX market participants, CME Group is uniquely positioned to enhance transparency in the fragmented FX market," said Paul Houston, Global Head of FX Products, CME Group. "CME FX Tape+ will give users a unique view of centralized spot and forward liquidity, enabling them to better manage their trading costs and benchmark their strategies."
Unlike other industry reference pricing sources, which leverage indicative or curated pricing from less transparent sources, CME FX Tape+ will provide an accessible, unbiased and transparent view of the FX market, based solely on actionable, firm liquidity from CME Group's FX spot and futures markets. The offering will initially cover 10 major currencies and will include a composite 'true' spot mid-price, combining liquidity, trades and mid-rates from across these venues.
CME FX Tape+ will disseminate reference data at 250 millisecond intervals via websocket API and historic market data files, improving the ability of market participants to confidently analyze the total cost and execution of their trades.