The FX Report - April

  • 9 May 2017
  • By CME Group
  • Topics: FX

Keep up with what is happening in the FX markets with this monthly report highlighting monthly data, new products and more.

The Numbers You Need

The CFTC’s Large Open Interest Holders Chart details the number of clients holding significant positions in CME Group FX futures over time. The continued upward trend to a record 1,073 demonstrates more participants are choosing FX futures and the benefits of clearing and netting.

April 2017 FX futures ADV of 715,322 ($76 billion notional)

FX futures April ADV is up 2% versus April 2016

April 2017 FX options ADV of 72,768 ($8 billion notional)

FX options ADV up 5% versus March 2017; led by Euro FX, which traded 40,093 ADV

Ones to Watch

Weekly Options: Record Volume

CME FX weekly options traded record high 24,728 ADV in April 2017, and accounted for 37% of overall FX options volume in March.  Market participants use FX weekly options, which have a Friday expiry, to effectively manage event risk around specific dates. Volatility around the first round of the French election drove Euro FX weekly options ADV of 13,067.

EUR/USD: Round-the-Clock Risk Management

Event risk may have reduced, but eyes remain on EUR/USD. After the first round of the French elections, CME FX saw significant volume increases during European and Asian trading hours, demonstrating greater participation around the world and the global reach of our markets. 

New Products, New Opportunities

It's What You Asked For

In the News

Get Ready: Market Buy Order Launching on May 14

Beginning in Q4 2016, CME Globex will enable Market by Order (MBO) functionality with current Market by Price (MBP) functionality. MBO disseminates individual orders and quotes at every price level for the given instrument.

MBO will improve transparency of CME Globex markets and allow customers to view position(s) while preserving market participant anonymity. MBO updates will be embedded in existing market data incremental events and channels. Additionally, MBO will support a new Market Recovery Feed.

Explore the schedule

Get Ready: Triangulation Launching for Three More Currencies

Triangulation will be enabled in Japanese Yen, British Pound, and Swiss Franc options on May 21. Triangulation in Euro FX and Canadian Dollar options will be enabled on June 18. A minimum quantity of 10-lots will be needed to trigger triangulation for AUD, CAD, GBP and CHF while the trigger for EUR and JPY is 20-lots.

Read the advisory

Live: Calendar Spreads on CME ClearPort

Effective since Sunday, April 23 (trade date Monday, April 24), “to support block and EFRP submissions on CME ClearPort at reduced minimum block quantities or tick size, all CME FX calendar spread trade submissions will be supported, including:

  • Differentiated minimum block quantity by leg expiration:
    • Quarterly versus Quarterly
    • Serial versus Serial
    • Quarterly versus Serial
  • Reduced minimum tick size based on non-contiguous or contiguous months

CME FX: DEFINED BY YOU. DELIVERED BY US.

FX Products

Learn more about FX products across major and emerging markets, options, and OTC contracts.

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View previous FX reports over the last year. 

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