CME Group’s FX Link now available on the Bloomberg Terminal

Rick Steves

CME Group launched FX Link in 2018 as a way to connect OTC spot FX and FX futures markets by creating spot FX basis spreads.

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CME Group has announced a new market data and order entry functionality for FX Link, available on the Bloomberg Terminal.

The integration is meant to allow market participants to access pricing, liquidity, and trading for FX swaps in G5 currency pairs.

Providing mutual clients with access to new FX futures contracts through Bloomberg’s ISV, Tradebook, will also strengthen FX Link’s position as a cleared and capital efficient central limit order book for FX swaps, which leverages existing OTC and futures workflows. A larger group of market participants are able to view and execute FX Link’s firm liquidity pool.

Paul Houston, Global Head of FX Products, CME Group, said: “FX Link is the tradeable spread between OTC FX spot and CME listed FX futures and therefore represents a cleared and capital-efficient pool of firm liquidity for FX swaps traded on our central limit order book. Bloomberg customers can now seamlessly view and execute trades in FX Link and access this diverse liquidity pool supported by existing workflows.”

Brian Coffaro, Global Head of Futures and Options Trading, Bloomberg, said: “Our connection to CME FX Link enhances our data and trading offering and enables us to provide our clients with comprehensive trading solutions. This integration enables us to continue delivering cross asset solutions that provide our clients with access to greater liquidity and price transparency in the futures and FX markets.”

FX Link’s liquidity pool is supported by a diverse set of participants, including banks, non-bank liquidity providers, hedge funds and asset managers.

CME Group launched FX Link in 2018 as a way to connect OTC spot FX and FX futures markets by creating spot FX basis spreads.

The service was launched on CME Globex, CME Group’s electronic trading platform, to create the first ever central limit order book between the over-the-counter (OTC) spot FX and CME Group FX futures markets.

The CME FX Link enables trading of an OTC spot FX contract and a CME Group FX futures contract via a single spread trade on CME Group’s liquid and transparent CME Globex trading platform. This allows efficient credit line management across both markets.

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