LONDON and CHICAGO, Jan. 5, 2017 /PRNewswire/ -- CME Group, the world's leading and most diverse derivatives marketplace, today announced the expansion of the foreign exchange (FX) offering with six FX monthly futures contracts. These new contracts provide FX market participants with access to the front months of the FX forward curve with the capital and operational benefits of trading listed futures. FX monthly futures are scheduled for trading on Monday, February 27, 2017 and will be listed on Chicago Mercantile Exchange (CME) subject to regulatory review.
FX monthly futures will be offered on six currency pairs where CME Group already offers quarterly futures: AUD, GBP, CAD, EUR, JPY and EUR/GBP. For each currency pair an additional three monthly contracts will be listed at any given time resulting in four consecutive months of monthly expiries. The first serial listed will be the April 2017 contract.
"The launch of FX monthly futures is in response to feedback from global customers who want to trade FX futures for the capital efficiencies they bring but require increased granularity to meet their hedging needs" said Paul Houston, Executive Director and Global Head of FX at CME Group. "CME is a primary FX market, offering users the ability to trade FX in an efficient and transparent manner. Our current number of large open interest holders in foreign exchange show record levels of participation in our marketplace."
Tom Gentile, Head of FX trading at Crabel Capital Management says, "We are excited for the launch of FX monthly futures at CME as more tenor granularity will give the market increased flexibility in which to trade."
Jack Hansen, Chief Investment Officer at Parametric Portfolio Associates says, "Parametric has been using CME products for over 30 years to provide our clients with effective exposure overlays and currency risk management solutions, and we welcome the added flexibility provided by new monthly maturities."
CME Group is the largest regulated FX marketplace in the world and offers an innovative global product suite of more than 90 futures and more than 30 options contracts. For further information, please visit www.cmegroup.com/fx.
As the world's leading and most diverse derivatives marketplace, CME Group (www.cmegroup.com) is where the world comes to manage risk. CME Group exchanges offer the widest range of global benchmark products across all major asset classes, including futures and options based on interest rates, equity indexes, foreign exchange, energy, agricultural products and metals. Around the world, CME Group brings buyers and sellers together through its CME Globex® electronic trading platform and its exchanges based in Chicago, New York and London. CME Group also operates one of the world's leading central counterparty clearing providers through CME Clearing and CME Clearing Europe, which offer clearing and settlement services across asset classes for exchange-traded and over-the-counter derivatives. CME Group's products and services ensure that businesses around the world can effectively manage risk and achieve growth.
CME Group is a trademark of CME Group Inc. The Globe Logo, CME, Globex and Chicago Mercantile Exchange are trademarks of Chicago Mercantile Exchange Inc. CBOT and the Chicago Board of Trade are trademarks of the Board of Trade of the City of Chicago, Inc. NYMEX, New York Mercantile Exchange and ClearPort are registered trademarks of New York Mercantile Exchange, Inc. COMEX is a trademark of Commodity Exchange, Inc. All other trademarks are the property of their respective owners. Further information about CME Group (NASDAQ: CME) and its products can be found at www.cmegroup.com.
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SOURCE CME Group