CME Group Expands FX Footprint, Launches Six New Contracts Next Monday

The new instruments are in addition to the existing quarterly futures.

Chicago-based CME Group (NASDAQ: CME), one of the world’s paramount exchange operators, is preparing the launch of six FX monthly futures contracts scheduled for Monday, February 27, 2017. These contracts will be listed on Chicago Mercantile Exchange (CME) after already passed the regulatory review.

The new monthly FX futures will complement CME’s existing suite of EUR/GBP contracts, as well as five major currency pairs against the US dollar: AUD, GBP, CAD, EUR and JPY. It will provide the exchange’s customers with a product that caters to their financial risk management needs through offering access to the front months of the FX forward curve.

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The new instruments are in addition to the existing quarterly futures. An additional three monthly contracts will be listed for each currency pair at any given time resulting in four consecutive months of monthly expiries. The first serial listed will be the April 2017 contract.

Announcing the launch earlier in January 2017, Paul Houston, Executive Director and Global Head of FX at CME Group, said: “The launch of FX monthly futures is in response to feedback from global customers who want to trade FX futures for the capital efficiencies they bring but require increased granularity to meet their hedging needs. CME is a primary FX market, offering users the ability to trade FX in an efficient and transparent manner. Our current number of large open interest holders in foreign exchange show record levels of participation in our marketplace.”

CME Group is the largest regulated FX marketplace in the world and offers clients a suite of over 90 futures and more than 30 options contracts. CME Group’s average daily foreign exchange (FX) volumes pointed higher in January 2017, yielding 920,000 contracts per day as compared to just 892,000 contracts per day in December 2016, or 3.1 percent month-over-month.

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