CME Group FX futures volumes and participation have grown in recent years to rival or exceed many leading over-the-counter (OTC) FX venues. With an average of $88 billion traded daily in 2024, CME Group FX futures play a critical role in price discovery and formation with upwards of 1,100 institutions and 100,000 individual traders active in CME Group’s futures and options complex in 2024.
The launch of FX Spot+ seamlessly connects the OTC spot FX market with the FX futures liquidity and hugely diverse ecosystem of customers – enabling FX traders to access the deep and complementary pool of liquidity in FX futures, but with the benefit of viewing, trading, booking and settling transactions in OTC spot format.
FX Spot+
Connecting OTC traders to
FX futures liquidity
FX Spot+
Connecting OTC traders to
FX futures liquidity
Talk to an expert about FX Spot+
What is FX Spot+
and who is it for?
“CME Group’s FX futures trade material volumes across all G7 currency pairs as well as in Mexican peso (MXN). Allowing spot traders access to that liquidity via FX Spot+ has the potential to have a huge impact on FX market structure”
Paul Houston
Global head of FX products, CME Group
Why is FX Spot+
different?
What is driving growth?
And what’s next?
What is FX Spot+ and who is it for?
“The target market is institutional customers, particularly those who can’t access FX futures today, such as smaller regional banks and hedge funds. FX Spot+ will open up that opportunity”
Paul Houston
Global head of FX products, CME Group
How does
FX Spot+ work?
Key highlights
About CME Group
Month 202X
How does FX Spot+ work?
“Using a technology called implied matching, FX Spot+ takes bids and offers from two marketplaces to create implied liquidity in a third. FX Spot+ uses FX futures and FX Link to create spot prices but also, in reverse, uses spot prices and FX Link to create futures”
Paul Houston
Global head of FX products, CME Group
Why is FX Spot+ different?
“By offering Spot+ we simplify the connectivity and allow participants to navigate that complexity … users can access that liquidity on one platform”
Paul Houston
Global head of FX products, CME Group
Paul Houston
Global head of FX products, CME Group
What’s driving growth? And what’s next?
“One of the attractions is the diversity of the user base. On our platform we have banks, non-bank market-makers, buy side, hedge funds and asset managers, retail – all trading in a single pool”
Paul Houston
Global head of FX products, CME Group
Paul Houston
Global head of FX products, CME Group
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As the world’s leading derivatives marketplace, CME Group is where the world comes to manage risk. Comprising four exchanges – CME, CBOT, Nymex and Comex – CME offers the widest range of global benchmarking products across all major asset classes, helping businesses everywhere mitigate the myriad risks they face in today’s uncertain global economy.
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CME Group products are not suitable for all investors and involve the risk of loss.
Full disclaimer available here
Copyright © 2025 CME Group Inc.
“By offering Spot+ we simplify the connectivity and allow participants to navigate that complexity … users can access that liquidity on one platform”
“One of the attractions is the diversity of the user base. On our platform we have banks, non-bank market-makers, buy side, hedge funds and asset managers, retail – all trading in a single pool”
What is FX Spot+ and who is it for?
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Paul Houston
Global head of FX products, CME Group
“The target market is institutional customers, particularly those who can’t access FX futures today, such as smaller regional banks and hedge funds. FX Spot+ will open up that opportunity”
How does FX Spot+ work?
Paul Houston
Global head of FX products, CME Group
“Using a technology called implied matching, FX Spot+ takes bids and offers from two marketplaces to create implied liquidity in
a third. FX Spot+ uses FX futures and
FX Link to create spot prices but also, in reverse, uses spot prices and FX Link to create futures”
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$314 billion
FX futures
single-day peak
in 2024
active in FX futures and options in 2024
G7+MXN
currency pairs available for FX Spot+ (from day one)
1,100+
institutions
100,000+
individual traders
