Listed FX options are increasingly a better proxy for the OTC market, as a result more traders can use listed FX options to hedge exposures and adapt to regulatory changes.
Attracted by the credit-agnostic liquidity and flexibility of our centrally cleared offering, including scope of currencies available; the granularity of weekly and monthly expiries on Mondays, Wednesdays, and Fridays; alignment with OTC market conventions in terms of style, value date, and expiration time; operational transparency and competitive fees.
Use the CME FX Options Vol Converter to compare G5 listed FX options pricing, converted to OTC terms in one screen, for the first time to better understand the price relationship in an OTC- equivalent vol surface.
Monitor the newly launched CVOL™ index to track implied volatility based on simple variance on G5 pairs – a more representative measure of the market’s expectation of 30-day forward risk.
Subscribe to Macro Hive reports, delivered bi-weekly into your mailbox, for exclusive insights on the key FX macro themes to watch, FX volatility trends and select CME FX options.
$7.5B
Q2 2017-Q2 2020 average daily notional listed FX options
Six times
Less expensive than trading an equivalent bilateral position in OTC FX options*
50%
Reduction in trading fees for all large trades, electronic or block, with further discounts available
Two
Records broken for largest trade ever in FXO in past six months, now set at $2.9 billion
10 a.m. NY
Expiration time, aligned to OTC market conventions
$11/M
Rebate program available -
Upwards of $11/M on each trade
* Source: Greenwich Associates study: FX Options in the Age of Uncleared Margin Rules, 2019
View a full list of products across G10 and Emerging Markets – including futures, options on futures, FX Link, and cleared OTC FX products – and how they align to the OTC market.
The One-Page Pitch – On the value of FX options
Use this short guide to FX Options, to know the value to you and your clients
Greenwich Associates on Total Cost Analysis and Uncleared Margin Rules, focused on FX options
How listed FX options could help buy-side firms save up to 70% on execution costs and reduce UMR funding costs by up to 86%.
Learn how FX options are a proxy for OTC options.
Read the full article or use the links below to go to a specific section:
Part 1: Understand FX options & compare to OTC FX spot options
Part 2: Anticipated impact of UMR
Part 3: Use cases for CME FX options
Part 4: Rules, tools, resources & mechanisms
Each quarter, we publish The FX Report, which assembles all of the key news, views, and stats the broking community needs to know.
CME Group's instructor David Gibbs explores the benefits of listed FX options for your clients in this teach-in tailored to intermediaries and brokers.
Monitor the market with our introduction to CME Direct and QuikStrike Analytics videos, including how to use CME Direct data, and how to use it to book blocks, create strategies, and get to know the built-in tools in more depth.
Analytics Browse more QuikStrike tools, including volumes, open interest tools, and heatmaps showing the most active options and strikes, and more.
How to use Request for Quote
How to use Directed Request for Quote
How to book a block, reporting times and more
How to use Committed Cross protocol w BPM
View or download over a year’s worth of listings and expiration dates across CME Group’s benchmark options, including yet to be listed weekly expiries
View all the trading codes you need across Globex, Bloomberg, Fidessa, Refinitiv, and more
Log in to download the large trade program, available for all market participants, and created specifically for large trade risk transfer. By logging in, we will also contact you to discuss the fee incentives, designed specifically for brokers.
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