Reduced Fees for FX EFP Transactions

  • 8 Oct 2012
  • By CME Group
  • Topics: FX

Save 25%-75% on EFP Transactions through the World's Largest Regulated FX Marketplace

Qualifying participants may be eligible for significantly reduced fees on FX exchange-for-physical (EFP) transactions on standard-size FX futures and options contracts. An Exchange for Physical (EFP) is a privately negotiated futures trade transacted apart from the trading floor or open outcry and CME Globex, our electronic trading platform, but is submitted for clearing through a futures clearing house. An EFP can be executed for any CME Group FX contract. EFP trades involve a futures contract and a cash FX position. The parties involved agree privately upon a price for a simultaneous exchange or transfer of a "cash FX for futures".

Two Ways to Save

1. Member firms accounting for 2% or greater of FX futures volume on CME Globex in a given quarter (excluding blocks):

  • EFP fees reduced from $1.00 to $0.50 per contract

2. Progressive tiers of fee reductions for trading volumes exceeding designated monthly average daily volume (ADV) threshholds (excluding blocks):

Monthly EFP ADV (in sides) CME FX EFP Surcharge Rate
0 – 2,500 $1.00/Side
2,501 – 5,000 $0.75/Side
5,001 – 8,000 $0.50 Side
8,001 – above $0.25/Side

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