The FX Report: Issue 02

  • 14 Mar 2018
  • By CME Group

In The News

February: The Market Traded More Than Ever Before

A surge in trading activity saw CME Group reach monthly average daily volume of 27.3 million contracts for February, the highest ever. Robust YoY growth in FX Majors including EUR/USD (+41%), JPY/USD (+23%), GBP/USD (+39%) and AUD/USD (+68%).

Find Out Why

In Our Markets

CME FX Link - Get Ready for March 25: The PBs are ready. The liquidity providers are ready. Make sure you are too.

FX Link connects FX spot and futures via one CME Globex spot basis spread, linking the liquidity between the two markets, seamlessly and cost-efficiently.

Read the Guide


Notional Nearing 40% of ECN-Traded FX: Recognition of Advantages Offered by Listed Futures Driving Growth

Notional traded in CME FX futures grew steadily in 2017. Over the last 12 quarters, this represents a substantial (and still increasing) proportion of the aggregate cash FX traded on major ECNs.

The Bottom-Line: Counting the Costs

The cost of trading FX Futures can be up to 75% less expensive than trading in OTC FX Markets. For entities subject to Basel-lll, inertia preventing a switch from OTC FX to FX futures could lead to even more pain. We look at recent research by Greenwich Associates which puts these costs under the lens.

Find Out Why


Emerging Markets: Volumes Revealing Growth

February volumes increased for the nine most-traded Emerging Markets contracts; Emerging Market pairs were up 8% MoM.

Take a look at INR


The Numbers You Need

February 2018 ADV

Futures $103B, +28% YoY
Options $11B, +47% YoY


Euro F&O single day OI record: 1,053,335 contracts on Feb 1
GBP options single day OI record: 208,209 contracts on Feb 8

Need To Know

Mar 21: Fed Meeting
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EUR/USD Wednesdays

Mar 23: BoE Meeting
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GBP/USD Fridays

Mar 25: CME FX Link: LIVE
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Launch Date

Apr 3: NBA Meeting:
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2018 Product Guide & Holiday Schedule:

Go Macro

Go Learn CME Institute

Go Further Product Pages