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FX Options
View an FX Product
Three Unique Trading Methods.
One Highly Liquid and Regulated FX Marketplace.
Take advantage of our liquid, anonymous, cost-efficient and centrally cleared FX options marketplace. We are the largest regulated FX marketplace and one of the top two FX platforms in the world. Trade any of our 31 options contracts based on 20 global currencies.
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FX Options
Our 31 FX options contracts offer you more choices
- Major or emerging-market currencies
- Two quoting conventions: Premium – or volatility-based quoting
- Whether you prefer quoting in terms of premium or implied volatility, the underlying option contract is identical, making it easier than ever to compare options contract prices with OTC cash contracts.
- Premium - The price paid by the purchaser of an option to the grantor (seller).
- Implied volatility – An estimate of the future volatility of the underlying contract that can be input into a theoretical valuation model to solve for an option premium.
- Whether you prefer quoting in terms of premium or implied volatility, the underlying option contract is identical, making it easier than ever to compare options contract prices with OTC cash contracts.
- Two expiration styles: American- or European-style expiration
- Having a choice of American- or European-style options provides you the ability to execute a larger variety of strategies based on your trading style.
- American-style options – Can be exercised at the choice of the holder, on any day up until the day prior to expiration. On the day of expiration, these options are automatically exercised if in-the-money, based on a daily fix calculated and published by CME Group at 2:00 p.m. CT, 3:00 p.m. ET.*
- European-style options – Can only be exercised at maturity and are automatically exercised on expiration if in-the-money, based on a daily fix calculated and published by CME Group at 9:00 a.m. CT, 10:00 a.m. ET on the day of expiration.*
- Having a choice of American- or European-style options provides you the ability to execute a larger variety of strategies based on your trading style.
Three Unique Ways to Access our FX Options
ON CME GLOBEX
Speed, Transparency, Access and Liquidity
- 60 percent of our FX options average daily volume is traded electronically on CME Globex.
When you trade our FX options on CME Globex, you will benefit from:
- Access to a diverse and global customer base
- A 5 to 7 millisecond response time where trades are executed and instantly confirmed back to you no matter where you are in the world – significantly faster than competing electronic platforms
- 1,000 direct connections in more than 90 countries and foreign territories
- Telecommunication hubs in London, Amsterdam, Dublin, Milan, Paris, Singapore, Sao Paulo and Seoul
- Free real-time quotes for FX options, visit www.cmegroup.com/equivalents
- The guarantee of CME Clearing, which ensures the soundness of your trades by virtually eliminating counterparty credit risk
View a quick guide to FX options on CME Globex.
ON THE FLOOR
Access Voice Trading Benefits
- Quick set up and nearly instant access to liquidity, direct from the floor, with voice brokers and floor traders interacting on your behalf to facilitate price discovery and efficient execution. (No connection infrastructure or front end systems required.)
BLOCK TRADES
Private Negotiation with Security of CME Clearing
- Retain control and convenience of privately negotiating a trade with a selected eligible counterparty
- Access the risk management and counterparty credit guarantees of CME Clearing
- Reduced fees – decreased from $1.75 to $1.00
- Learn more about Block Trades
- View Block Trade Minimum Quantities
Get started today.
Contact a CME Group FX team member to find out how you can start trading our FX options today.
| CHICAGO | CHICAGO |
| Simon Burnham | Craig LeVeille |
| +1 312 930 3426 | +1 312 454 5301 |
| simon.burnham@cmegroup.com | craig.leveille@cmegroup.com |
| LONDON | LONDON | SINGAPORE |
| Malcolm Baker | Will Patrick | KC Lam |
| +44 20 3379 3863 | +44 20 3379 3721 | +65 6593 5561 |
| malcolm.baker@cmegroup.com | will.patrick@cmegroup.com | kc.lam@cmegroup.com |
* For information on the daily fix, please refer to www.cmegroup.com/currfixprice, to get the latest information on the procedure used to calculate the daily fix and www.cmegroup.com/fxfixing-price to get the most recently published daily fix values.
To get started trading, or for more information, contact a member of our FX product team.
CHICAGO
Simon Burnham
+1 312 930 3426
simon.burnham@cmegroup.com
Craig LeVeille
+1 312 454 5301
craig.leveille@cmegroup.com
LONDON
Malcolm Baker
+44 20 3379 3863
malcolm.baker@cmegroup.com
Will Patrick
+44 20 3379 3721
will.patrick@cmegroup.com
SINGAPORE
KC Lam
+65 6593 5561
kc.lam@cmegroup.com
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