CME FX Link Integrates with Messaging Services
Posted by Colin Lambert. Last updated: April 21, 2021
CME Group’s FX Link has been integrated with the Refinitiv Trade Notification (RTN) and IHS Markit’s MarkitServ messaging services. This means that FX Link customers can receive messages from these services, thus streamlining onboarding and STP requirements.
“We recognise how important automation and ease of connectivity is for our customers, and we continue to invest in enhancements to provide flexible access to the growing FX Link marketplace”, says Paul Houston, global head of FX products at CME Group. “By integrating with RTN and MarkitServ, a larger group of market participants are able to use FX Link, a cleared and capital efficient pool of firm liquidity for FX swaps.”
Jan Scheffel, co-head of global short term macro trading at Goldman Sachs – one of the first banks to use the service, adds, “We are excited to have access to FX Link as a marketplace for capital efficient FX swap trading, and the ability to use RTN for the spot leg messaging has enabled us to easily onboard and to keep the messaging consistent with other ECNs.”
Meanwhile, Dean Berry, group head of trading and banking solutions at Refinitiv, says, “Refinitiv Trade Notification provides thousands of customers with transparency and genuine STP for their FX trades across 150 publishers including single dealer, multi-dealer, and voice broker platforms. We are pleased to now support messaging from CME FX Link activity in order to standardise and streamline how customers can integrate in an efficient way with this growing marketplace for FX swaps.”
Finally, Mark Briant-Evans, head of FX business development at IHS Markit, says, “MarkitServ’s multi-asset STP service helps our customers manage the diverse and fragmented nature of the OTC marketplace, combining STP from any execution source with flexible processing and workflow solutions to reduce the cost, risk and complexity of post trade operations. We are excited to work with CME FX Link to provide customers with turn-key integration to this innovative platform for FX swap execution.”