FX Options: More expirations along the curve

We have been updating, evolving and restructuring our FX options to create a better proxy for the OTC FX market and to enable more participants to easily access the capital efficiencies and liquidity of our markets.

Our focus has been on creating the granularity participants need to manage event risk, with the ability to spread risk across multiple maturity points, all aligned to the 10am NY cut, and all benefitting from our auto exercise technology – which negates the need to ever call anyone else again, for more efficiency, and less operational risk. 

    

Introducing the CME FX Options Vol Converter

Compare G5 listed FX options pricing, converted to OTC terms, for the first time, in one new tool.

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Need to Know

Addition of more strikes

More quarter strikes for more choice in deltas and premiums made for more granular execution.

Launch of Monday, Wednesday and Friday expiries

More expiries available on 24 options pairs; flexible Wednesday, Friday, monthly and quarterly maturities; traded around the clock, made for managing macro event risk.

Expansion of our maturities

More monthly maturities added to the majors, providing a full one-year term structure, made for sequential hedging and a more capital-efficient solution along the more costly end of the curve.

Spot Light: Expiries

Weekly Options – defined by any Monday, Wednesday or Friday expiry, in combination have almost $9B in Open Interest – as more participants look to the granularity they provide in uncertain times.

All of these expiries are available across multiple venues, including Bloomberg, in five currency pairs. 

See all the FX options dates and codes you need

More choices along the term structure, more transparency on the volatility surface, a better trading solution for today’s markets

Focus on Mondays

Live since February 2020, June ADV reached 1,526, an 85% increase on May, and Open Interest reached 18,443 on June 12, a new high.

CME Direct: Access FX options directly

Trade and follow market data in real time on CME Direct, our fast, secure, highly configurable trading front-end. Made for block execution certainty and compliance, with more convenience.

Tap into solutions across the trading lifecycle:

  • Build Strategies
  • Options Analytics
  • Integrated Workflow
  • Real-time Excel

Get connected at cmegroup.com/direct


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In the News: 50% Discount on Fees

NEW CREATION OF ‘BIG TICKET’ DISCOUNTS

Trading FX Options at CME Group has never been more capital-efficient or as compelling – with 50% fee reduction on all large trades however executed – Globex, Block or Pit

LARGE TRADE: DEFINED

250 contracts: EUR/USD, JPY/USD, GBP/USD, AUD/USD, CAD/USD, CHF/USD

50 contracts: MXN/USD, NZD/USD, BRL/USD, RUB/USD, ZAR/USD, EUR/GBP, EUR/JPY, EUR/CHF

20 contracts: KRW/USD, PLN/USD, HUF/USD, HUF/EUR, ILS/USD, CZK/USD, CZK/EUR, CNY/EUR, CNY/USD

LOG IN TO SEE ALL THE DETAILS OF THE LARGE TRADE PROGRAM, HOW TO GET INVOLVED AND HOW TO MAKE THE MOST OF THE LIQUIDITY AVAILABLE

See the rules, and know your large trade sizes: Large trades are defined as those at or above the block level but apply to all execution types – Globex, Block or Pit.

Find your block market maker: choose who to partner with, based on time zone and currencies facilitated

Insights: Whitepaper

CME Listed FX Options: A Capital-Efficient, Low-Cost Solution

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, rules and resources for CME FX options
Part 4: Rules, tools, resources & mechanisms

See the liquidity: See the close alignment across maturities

Created for convenience: Trade the platform of your choice

Platforms include: Bloomberg  |  CQG  |  Fidessa  |  Refinitiv

View vendor trading codes for our FX options