May 23, 2022

CME FX Link see 59% increased growth in volumes

CME FX Link – the cleared electronic marketplace for FX swaps – is experiencing strong growth, driven by increased customer adoption as market participants express a need for a capital-efficient, firm liquidity pool for FX swaps – with truly firm pricing.

As a result of increased client participation:

  • Orderbook depth has increased by over 200% in EUR/USD
  • Top of book spreads have been reduced and are now -30% tighter
  • Overall volumes have increased 59%. Single-day records were achieved in USD/CAD on 3/25/22 (18,533 contracts/$1.48 billion) and NZD/USD on 4/28/22 (7,239 contracts/$470 million).

FX Link OTC spot to quarterly IMM spread orderbook shows material improvement during London hours:

FX Link OTC spot to quarterly IMM spread orderbook shows material improvement during London hours – Source CME Group. Comparison period is May 2 – May 11, 2022 against February through April 2022. Values are presented as daily averages measured during 08:00 – 10:00 Chicago time for OTC Spot to Quarterly IMM spread. Exchange rates used to compute USD values: EUR/USD: 1.05, USD/JPY: 130, GBP/USD: 1.23, USD/CAD: 1.29.ata comparing six months before the NZD tick cut versus the period after the tick cut up through the end of March 2022.


Source: CME Group

Understand how FX Link can help your firm address the impact of the UMR Phase 6 AANA calculation period, manage increased volatility caused by interest differentials as central banks have begun diverging in policy, and enable you to trade in the only cleared, capital-efficient liquidity pool for FX swaps.


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