CME to delist 5 FX futures amid no open interest in these products.
Bloomberg
The Chicago Mercantile Exchange (CME) is delisting several of its FX futures contracts, after the instruments failed to gain traction in recent years, from among the vast array of instruments offered at the Chicago-based exchange, and as volumes were gained by the CME in related contracts that had more attractive contract specifications.
According to an official press release dated May 16th 2016, CME said it will delist three FX futures contracts including the US dollar/ Chinese renminbi (USD/RMB also known as USD/CNY), and the e-micro version of the USD/CNY contract, as well as the e-micro US dollar/ Canadian dollar (USD/CAD) futures contract.
Two additional FX futures e-micro contracts are set to be de-listed, including the e-micro USD/JPY and e-micro USD/CHF which will be permanently de-listed on June 13th 2016, after the CME noted in the press release that it de-listed the contract's September expiry months and had no plans to list additional months for trading on the two contracts ahead of their planned de-listing date.
Standard version reaping the volumes
These contracts were launched several years ago and hadn’t gained traction, as they are cash-settled unlike the CME’s standard version contracts for the same currencies which deliver the actual underlying currency.
The deliverable contracts had been launched subsequent to the cash-settled ones, in response to demand, thus making the older ones obsolete as volumes shifted to the related contracts that hedgers and speculators had found more useful which contained small differences in how they are priced and settled.
According to people familiar with the products, the USD/CAD related e-micro contact that is being de-listed was initially launched as part of a set of e-micro contracts in a flipped quotation format where a notional value of US$10,000 is priced in a Canadian pips equivalent - as is common in the over-the-counter (OTC) market where the USD/CAD pair is priced in Canadian dollars for each unit of US dollar.
However, this pricing specification in the contract was not Fungible with the CME’s very liquid standard size CAD/USD contract (which is priced in USD) and which had prompted the exchange to launch an e-micro CAD/USD version that used a notional amount of CAD10,000 and priced in USD pips – and which made it fungible with the larger standard contract at a 10:1 ratio.
That e-micro CAD/USD contract subsequently gained volume and open interest and thus made the related delisted contract announced today to move towards its retirement, and with similar reasons for other related contracts mentioned including the USD/JPY and USD/CHF e-micros. A screenshot below shows the top 15 FX and options contracts with the highest open interest as of May 16th 2016 at the CME:
May 16 2016 preliminary summary of FX volumes and open interest at CME: Source: CME
April FX options volumes
CME recently reported April highlights for its options trading business, as many of the offered futures instruments at CME also have available options contracts as an additional way for traders to gain exposure or hedge. CME started off the year with a record first quarter (Q1) as covered by Finance Magnates in a recent post.
In April, the Interest Rate (IR) options segment had a record 41% of its contracts traded electronically on CME Globex, while eurodollar options represented a record 27% compared to 17% in April 2015, and held open interest of 36 million contracts at the end of last month.
The June and December 2016 eurodollar puts with a strike price of 98.875 both had over 1 million contracts in open interest as of the end of April 2016.
A screenshot from the April 2016 report from CME, as seen below, shows the percentage of puts and open interest compared to the average daily volume and change year-over-year for many of CME's key FX options on futures for last month:
Source: CME April 2016 Options Report
The Chicago Mercantile Exchange (CME) is delisting several of its FX futures contracts, after the instruments failed to gain traction in recent years, from among the vast array of instruments offered at the Chicago-based exchange, and as volumes were gained by the CME in related contracts that had more attractive contract specifications.
According to an official press release dated May 16th 2016, CME said it will delist three FX futures contracts including the US dollar/ Chinese renminbi (USD/RMB also known as USD/CNY), and the e-micro version of the USD/CNY contract, as well as the e-micro US dollar/ Canadian dollar (USD/CAD) futures contract.
Two additional FX futures e-micro contracts are set to be de-listed, including the e-micro USD/JPY and e-micro USD/CHF which will be permanently de-listed on June 13th 2016, after the CME noted in the press release that it de-listed the contract's September expiry months and had no plans to list additional months for trading on the two contracts ahead of their planned de-listing date.
Standard version reaping the volumes
These contracts were launched several years ago and hadn’t gained traction, as they are cash-settled unlike the CME’s standard version contracts for the same currencies which deliver the actual underlying currency.
The deliverable contracts had been launched subsequent to the cash-settled ones, in response to demand, thus making the older ones obsolete as volumes shifted to the related contracts that hedgers and speculators had found more useful which contained small differences in how they are priced and settled.
According to people familiar with the products, the USD/CAD related e-micro contact that is being de-listed was initially launched as part of a set of e-micro contracts in a flipped quotation format where a notional value of US$10,000 is priced in a Canadian pips equivalent - as is common in the over-the-counter (OTC) market where the USD/CAD pair is priced in Canadian dollars for each unit of US dollar.
However, this pricing specification in the contract was not Fungible with the CME’s very liquid standard size CAD/USD contract (which is priced in USD) and which had prompted the exchange to launch an e-micro CAD/USD version that used a notional amount of CAD10,000 and priced in USD pips – and which made it fungible with the larger standard contract at a 10:1 ratio.
That e-micro CAD/USD contract subsequently gained volume and open interest and thus made the related delisted contract announced today to move towards its retirement, and with similar reasons for other related contracts mentioned including the USD/JPY and USD/CHF e-micros. A screenshot below shows the top 15 FX and options contracts with the highest open interest as of May 16th 2016 at the CME:
May 16 2016 preliminary summary of FX volumes and open interest at CME: Source: CME
April FX options volumes
CME recently reported April highlights for its options trading business, as many of the offered futures instruments at CME also have available options contracts as an additional way for traders to gain exposure or hedge. CME started off the year with a record first quarter (Q1) as covered by Finance Magnates in a recent post.
In April, the Interest Rate (IR) options segment had a record 41% of its contracts traded electronically on CME Globex, while eurodollar options represented a record 27% compared to 17% in April 2015, and held open interest of 36 million contracts at the end of last month.
The June and December 2016 eurodollar puts with a strike price of 98.875 both had over 1 million contracts in open interest as of the end of April 2016.
A screenshot from the April 2016 report from CME, as seen below, shows the percentage of puts and open interest compared to the average daily volume and change year-over-year for many of CME's key FX options on futures for last month:
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Marketing in 2026 Audiences, Costs, and Smarter AI
As brokers eye B2B business and compete with fintechs and crypto exchanges alike, marketers need to act wisely with often limited budgets. AI can offer scalable solutions, but only if used properly.
Join seasoned marketing executives and specialists as they discuss the main challenges they identify in financial services in 2026 and how they address them.
Attendees of this session will walk away with:
- A nuts-and-bolts account of acquisition costs across platforms and geos
- Analysis of today’s multi-layered audience segments and differences in behaviour
- First-hand account of how global brokers balance consistency and local flavour
- Notes from the field about intelligently using AI and automation in marketing
Speakers:
-Yam Yehoshua, Editor-In-Chief at Finance Magnates
-Federico Paderni, Managing Director for Growth Markets in Europe at X
-Jo Benton, Chief Marketing Officer, Consulting | Fractional CMO
-Itai Levitan, Head of Strategy at investingLive
-Roberto Napolitano, CMO at Innovate Finance
-Tony Cross, Director at Monk Communications
#fmls #fmls25 #fmevents #FintechMarketing #AI #DigitalStrategy #Fintech #Innovation
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As brokers eye B2B business and compete with fintechs and crypto exchanges alike, marketers need to act wisely with often limited budgets. AI can offer scalable solutions, but only if used properly.
Join seasoned marketing executives and specialists as they discuss the main challenges they identify in financial services in 2026 and how they address them.
Attendees of this session will walk away with:
- A nuts-and-bolts account of acquisition costs across platforms and geos
- Analysis of today’s multi-layered audience segments and differences in behaviour
- First-hand account of how global brokers balance consistency and local flavour
- Notes from the field about intelligently using AI and automation in marketing
Speakers:
-Yam Yehoshua, Editor-In-Chief at Finance Magnates
-Federico Paderni, Managing Director for Growth Markets in Europe at X
-Jo Benton, Chief Marketing Officer, Consulting | Fractional CMO
-Itai Levitan, Head of Strategy at investingLive
-Roberto Napolitano, CMO at Innovate Finance
-Tony Cross, Director at Monk Communications
#fmls #fmls25 #fmevents #FintechMarketing #AI #DigitalStrategy #Fintech #Innovation
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Much like their traders in the market, brokers must diversify to manage risk and stay resilient. But that can get costly, clunky, and lengthy.
This candid panel brings together builders across the trading infrastructure space to uncover the shifting dynamics behind tools, interfaces, and full-stack ambitions.
Attendees will hear:
-Why platform dependency has become one of the most overlooked risks in the trading business?
-Buy vs. build: What do hybrid models look like, and why are industry graveyards filled with failed ‘killer apps’?
-How AI is already changing execution, risk, and reporting—and what’s next?
-Which features, assets, and tools gain the most traction, and where brokers should look for tech-driven retention?
Speakers:
-Stephen Miles, Chief Revenue Officer at FYNXT
-John Morris, Co-Founder at FXBlue
-Matthew Smith, Group Chair & CEO at EC Markets
-Tom Higgins, Founder & CEO at Gold-i
-Gil Ben Hur, Founder at 5% Group
#fmls #fmls25 #fmevents #Brokers #Trading #Fintech #FintechInnovation #TradingTechnology #Innovation
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Much like their traders in the market, brokers must diversify to manage risk and stay resilient. But that can get costly, clunky, and lengthy.
This candid panel brings together builders across the trading infrastructure space to uncover the shifting dynamics behind tools, interfaces, and full-stack ambitions.
Attendees will hear:
-Why platform dependency has become one of the most overlooked risks in the trading business?
-Buy vs. build: What do hybrid models look like, and why are industry graveyards filled with failed ‘killer apps’?
-How AI is already changing execution, risk, and reporting—and what’s next?
-Which features, assets, and tools gain the most traction, and where brokers should look for tech-driven retention?
Speakers:
-Stephen Miles, Chief Revenue Officer at FYNXT
-John Morris, Co-Founder at FXBlue
-Matthew Smith, Group Chair & CEO at EC Markets
-Tom Higgins, Founder & CEO at Gold-i
-Gil Ben Hur, Founder at 5% Group
#fmls #fmls25 #fmevents #Brokers #Trading #Fintech #FintechInnovation #TradingTechnology #Innovation
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When acquisition costs rise and AI generated reviews are exactly as useful as they sound, performing and fair partners can make or break brokers.
This session looks at how these players are shaping access, trust and user engagement, and what the most effective partnership models look like in 2025.
Key Themes:
- Building trader communities through education and local expertise
- Aligning broker incentives with long-term regional strategies
- Regional regulation and the realities of compliant acquisition
- What’s next for performance-driven partnerships in online trading
Speakers:
-Adam Button, Chief Currency Analyst at investingLive
-Zander Van Der Merwe, Key Individual & Head of Sales at TD Markets
-Brunno Huertas, Regional Manager – Latin America at Tickmill
-Paul Chalmers, CEO at UK Trading Academy
#fmls #fmls25 #fmevents #Brokers #FinanceLeadership #Trading #Fintech #BrokerGrowth #FintechPartnerships #RegionalMarkets
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When acquisition costs rise and AI generated reviews are exactly as useful as they sound, performing and fair partners can make or break brokers.
This session looks at how these players are shaping access, trust and user engagement, and what the most effective partnership models look like in 2025.
Key Themes:
- Building trader communities through education and local expertise
- Aligning broker incentives with long-term regional strategies
- Regional regulation and the realities of compliant acquisition
- What’s next for performance-driven partnerships in online trading
Speakers:
-Adam Button, Chief Currency Analyst at investingLive
-Zander Van Der Merwe, Key Individual & Head of Sales at TD Markets
-Brunno Huertas, Regional Manager – Latin America at Tickmill
-Paul Chalmers, CEO at UK Trading Academy
#fmls #fmls25 #fmevents #Brokers #FinanceLeadership #Trading #Fintech #BrokerGrowth #FintechPartnerships #RegionalMarkets
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This session explores unexpected ways for industry players to collaborate as consumer habits evolve, competitors eye the traffic, and regulation becomes more nuanced.
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-Slobodan Manojlović,Vice President | Lead Software Engineer at JP Morgan Chase & Co.
-Jordan Sinclair, President at Robinhood UK
-Simon Pelletier, Head of Product at Yuh
Gerald Perez, CEO at Interactive Brokers UK
#fmls #fmls25 #fmevents #Brokers #FinanceLeadership #Trading #Fintech #Innovation
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As the arms race to bundle investing, personal finance, and wallets under super apps grows fiercer, brokers are caught between a rock and a hard place.
This session explores unexpected ways for industry players to collaborate as consumer habits evolve, competitors eye the traffic, and regulation becomes more nuanced.
Speakers:
-Laura McCracken,CEO | Advisory Board Member at Blackheath Advisors | The Payments Association
-Slobodan Manojlović,Vice President | Lead Software Engineer at JP Morgan Chase & Co.
-Jordan Sinclair, President at Robinhood UK
-Simon Pelletier, Head of Product at Yuh
Gerald Perez, CEO at Interactive Brokers UK
#fmls #fmls25 #fmevents #Brokers #FinanceLeadership #Trading #Fintech #Innovation
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Mind The Gap: Can Retail Investors Save the UK Stock Market?
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As the dire state of listing and investment in the UK goes from a financial services problem to a national challenge, the retail investing industry is taken to task.
Join a host of executives and experts for a candid conversation about the future of millions of Brits, as seen from a financial services standpoint:
-Are they happy with the Leeds Reform, in principle and in practice?
-Is it the government’s job to affect the ‘saver’ mentality? Is it doing well?
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Speakers:
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-Nicola Higgs, Partner at Latham & Watkins
-Dan Lane, Investment Content Lead at Robinhood UK
-Jack Crone, PR & Public Affairs Lead at IG
-David Belle, Founder at Fink Money
#fmls #fmls25 #fmevents #Brokers #FinanceLeadership #Trading #Fintech #RetailInvesting #UKFinance
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As the dire state of listing and investment in the UK goes from a financial services problem to a national challenge, the retail investing industry is taken to task.
Join a host of executives and experts for a candid conversation about the future of millions of Brits, as seen from a financial services standpoint:
-Are they happy with the Leeds Reform, in principle and in practice?
-Is it the government’s job to affect the ‘saver’ mentality? Is it doing well?
-What can brokers and fintechs do to spur UK investment?
-How can the FCA balance greater flexibility with consumer protection?
Speakers:
-Adam Button, Chief Currency Analyst at investingLive
-Nicola Higgs, Partner at Latham & Watkins
-Dan Lane, Investment Content Lead at Robinhood UK
-Jack Crone, PR & Public Affairs Lead at IG
-David Belle, Founder at Fink Money
#fmls #fmls25 #fmevents #Brokers #FinanceLeadership #Trading #Fintech #RetailInvesting #UKFinance
Connect with us at:
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