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%).
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.
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 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.
February volumes increased for the nine most-traded Emerging Markets contracts; Emerging Market pairs were up 8% MoM.
2018 Product Guide & Holiday Schedule: