CME FX Spot+ Hits New Peak

CME Group’s nascent FX trading venue, FX Spot+, hit a new single-day high on 10 September, some five months after it was launched.

The Merc says $5 billion was traded across futures and spot on FX Spot+, with activity spanning all eight currency pairs supported by the platform. CME is also planning to add two currencies, NOK and SEK, to FX Link – a key component of Spot+ – later this month, subject to regulatory approval.

Unsurprisingly, EUR, JPY and GBP were the three most active markets, and CME says matches included both native spot trades and implied transactions with futures market participants. Since the launch, CME says more than 70 entities have traded on the venue, including 25 banks that it says are new to FX futures liquidity.

Whilst the numbers remain modest – although some platforms that have previously launched in FX would grab five yards a day after less than six months – CME will be heartened by Spot+ hitting a new high on a day during which activity in FX was relatively subdued. Other platforms to report volume show that 10 September was below the recent average, while FX Link itself was slightly above the average in August at $2.77 billion.