The FX Report: Issue 03

  • 13 Apr 2018
  • By CME Group

In The News

CME FX Link is Live. Hear from Colin Lambert of Profit&Loss to Understand How Significant This Could Be To The Industry

“Today could actually turn out to be a reasonably significant day for the FX industry. The reason I feel it may be significant is down to my long-standing belief that greater automation and efficiency in FX forwards and swaps is the key to long term growth in the broader FX industry, and there is a chance that FX Link may help deliver the regulatory and capital efficiency to help drive that, in an automated environment.”

Get the Full Story: Read the Article

In Our Markets

CME FX Link is Live: First Weeks, First Trades

Since go-live on March 25, we are consistently seeing new participants trading, liquidity developing, volume increasing and the network of prime brokers expanding.

Find out why you should get involved


All UP: Q1 2018 Trading Volume, Open Interest & Participants

At the end of Q1, ADV across FX futures and options stood at 1.1M contracts
(up 23.60% versus Q1 2017)

In notional terms, ADV for Q1 2018 across FX futures and options was $116.20B
(up 35% versus Q1 2017)

In open interest (OI), average OI for FX futures and options for Q1 2018 was 2.64M contracts
(up 15.40% versus Q1 2017)

Large Open Interest Holders in FX futures reached an all-time high of 1,144 on January 30


And, We Are Now the Largest Electronic FX Options Marketplace In The World…

With over $11B notional traded on average in Q1, CME FX options are now the deepest, most liquid and diverse direct-access, multiparticipant destination for risk management; accounting for ~25% of all single dealer and multi-dealer electronic volume globally.

See the data

Based on FXJSC, FXC & TFEMC 2017 surveys.


…With Increasing Liquidity Around the Clock: Watch EUR/USD FX Options in Asian Hours

Greatly improved top-of-book spread and size creates actionable Asian-hours liquidity, with greater market resilience.

See the charts


The Numbers You Need

March 2018 ADV

Futures $105B, +34% YoY
Options $11B, +50% YoY.


EUR/JPY futures OI record: 31,050 contracts on Mar 13
NZD futures OI record: 86,603 contracts on Mar 16
Wednesday Options YTD ADV: 5,393 contracts, up 89% from December ADV

Need To Know

NEW TOOL: Options Expiration Calendar. View and download 12 months of options listing and expiration dates, including yet-to-be-listed weekly expiries.

Apr 18: BoC Meeting
Add to Calendar
CAD/USD Wednesdays

Apr 26: ECB Meeting, BoJ Meeting
Add to Calendar (ECB Meeting)
Add to Calendar (BoJ Meeting)

Apr 27: U.S. GDP
Add to Calendar
EUR/USD Fridays

2018 Product Guide & Holiday Schedule:

Go Macro

Go Learn CME Institute

Go Further Product Pages