MEFF Launches Institutional Web-Based FX Derivatives Trading Platform

BME FX targets banking institutions that aim to facilitate hedging the currency risk.

MEFF, the Spanish Derivatives Market, announced on Thursday that it launched BME FX, a web-based FX derivatives trading platform aimed at banking institutions. According to the press release, the brand-new platform seeks to facilitate hedge currency’s risk through its product xRolling FX futures contracts.

The solution, which focuses on banks that want to provide FX technological solutions for institutional clients on FX derivatives trading, is intended to deploy white-label terminals among the clients. In 2019, BME unveiled xRolling FX, a futures contract on the 17 most actively traded currency pairs, distributed by MEFF members, then settled and cleared by BME Clearing, BME’s Central Counterparty.

“With the launch of the BME FX platform, the BME Group continues its expansion in the FX market, an industry in full transformation because of a growing demand for greater transparency in FX trading by regulators,” the announcement reads.

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Moreover, MEFF adds the following about xRolling FX futures contracts: “The daily rollover of the open position allows the contract’s price to be the same as that of the spot currency. All this brings a level of transparency and safety for retail investors without precedent in the FOREX market. xRolling® FX Futures contracts is also an ideal product for investors carrying out currency risk-hedging since it is not subject to the quarterly rollover of traditional futures, is settled in euros, and cleared by BME’s CCP, BME Clearing.”

Derivatives Markets Globally

The derivatives markets have been quite active so far this year, with major exchanges making key expansion moves. Eurex, an international derivatives exchange and a member of the Deutsche Börse Group, announced on June 2 that it decided to expand its presence in Asia. The exchange launched new derivatives to support exposure for the Chinese equity market.

Specifically, Eurex launched futures on the MSCI China Tech 100 Index, focusing on China’s technology sector.

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