CME Group to Launch FX Tape+ to Provide Centralized Reference Prices for the FX Market

Core Viewpoint - CME Group is launching CME FX Tape+, a new service aimed at enhancing transparency and providing centralized reference prices in the fragmented FX market [1][2]. Group 1: Product Launch - CME FX Tape+ will offer a comprehensive view of FX market liquidity from various marketplaces, including FX futures, EBS Market, FX Spot+, and FX Link, and is set to launch later this year [1]. - The service will initially cover 10 major currencies and will provide a composite 'true' spot mid-price based on actionable liquidity from CME Group's FX spot and futures markets [2]. Group 2: Market Impact - By aggregating price information from a network of 1,400 institutions and over 100,000 active FX market participants, CME Group aims to improve transparency in the FX market [2]. - CME FX Tape+ will allow users to better manage trading costs and benchmark their strategies through a unique view of centralized spot and forward liquidity [2]. Group 3: Data Dissemination - The reference data from CME FX Tape+ will be disseminated at 250 millisecond intervals via websocket API and historic market data files, enhancing the ability of market participants to analyze trade costs and execution [3]. Group 4: Company Overview - CME Group is recognized as the world's leading derivatives marketplace, facilitating trading across various asset classes, including interest rates, equity indexes, foreign exchange, energy, agricultural products, and metals [4]. - The company operates multiple trading platforms, including CME Globex for futures and options, BrokerTec for fixed income, and EBS for foreign exchange trading [4].