Testing of CME’s Spot+ Set for 11 November
Posted by Colin Lambert. Last updated: July 22, 2024
In a customer update, CME Group says that it will launch its new CME FX Spot+ central limit order book in March 2025, and that the new platform will be available for testing in a new release environment on November 11.
Spot+ will bring together CME’s FX futures and OTC liquidity from EBS using FX Link, the Merc’s spread platform, effectively allowing traders access to all CME FX liquidity in an OTC format.
Trading and testing will be available for EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY, USD/CAD, USD/CHF, and USD/MXN. The new instruments will be separate from those available on EBS, effectively meaning CME will offer three distinct liquidity pools for spot FX.
While the launch is intended to bring futures and OTC liquidity closer together, Spot+ will not have the EBS features of a latency floor or minimum quote lifespan.
