CME Group sees record FX Link daily volume with 82,900 contracts

CME Group today announced that the FX Link trading volume has hit a record high on 16 June 2022. The company registered those 82,900 contracts, making it a single-day record on the derivatives platform. The notional value of these contracts was over $7.2 billion.

The latest peak surpassed the trading platform’s previous record of 77,146 contracts on 10 March 2020.

In addition, CME Group reported a new single-day record for the USD/JPY pair with 26,677 contracts, representing a notional value of more than $2.5 billion.

CME Group

The FX Link average daily volume (ADV) tripled in June 2022, registering 43,000 contracts being traded every day, compared to nearly 15,000 contracts in June last year.

Paul Houston, CME Group’s Global Head of FX Products, said:

This milestone reflects growing adoption of FX Link as a tool to manage risk. As the world’s first anonymous and centralized FX swaps liquidity pool, FX Link allows participants to gain access to alternative pricing of swaps relative to OTC, and benefit from the capital efficiencies which come from using FX futures. As a result of the increased client participation in 2022, top of book spreads have reduced, and we have seen strong growth in order book depth.”

CME Group launched FX Link in 2018 and since then it has attracted major names in the industry like Deutsche Bank which is a liquidity provider in FX Link.

Shuo Wu, Deutsche Bank’s Global Head of Forward eTrading, added:

We are excited to see market participants leverage FX Link as a source of FX swap liquidity.

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