FX Spot+
A next-generation, all-to-all spot FX marketplace that translates futures liquidity into spot terms — expanding liquidity access to OTC traders and bringing the FX market together like never before.
Launching March 2025
Traded as spot FX
Benefit from FX futures liquidity and still view, trade, book and settle transactions in OTC spot FX format. No clearing member or direct interaction with the futures market required.
Liquidity that speaks volumes, now in your language
FX futures offer a liquidity pool with volumes that often rival or exceed the largest OTC spot FX ECNs. FX Spot+ will provide access to this unique liquidity in spot FX terms, as well as to the diverse ecosystem of futures participants, via implication technology.
Seamless connectivity
Enter orders and access market data for FX Spot+ using your choice of standard Globex futures and options connectivity, EBS Workstation or existing EBS connectivity options in New York, London and Tokyo.
How FX Spot+ works
FX Spot+ will be a firm, all-to-all spot FX central limit order book (CLOB) located in CME Group's Chicago matching engine, with implied technology enabled to connect the OTC spot and FX futures marketplaces. It can also have native spot orders match with opposing native spot orders placed in the book.
FX Spot+ uses Globex implication technology together with the prices of FX futures and FX Link (a liquid, tradable spread between OTC spot FX and FX futures) to create an implied spot price for FX Spot+, the first-ever of its kind. Equally, a native resting spot order in FX Spot+ will be combined with FX Link liquidity to create implied liquidity into futures.
This gives OTC spot users access to FX futures liquidity that they can view and transact in spot terms.
Resting orders in futures and FX Link will enable resting spot orders in applicable OTC notional amounts.
Resting orders in FX Spot+ and FX Link will enable resting futures orders in applicable futures contract amounts.
Learn more about FX Spot+
Get a deeper look at how FX Spot+ works, from translating FX futures prices into OTC spot FX terms that can be traded as spot to how you can tap into this marketplace using existing connections.
Quicklinks
Contact an FX Spot+ expert
As testing goes live and the 2025 launch draws closer, connect with an FX Spot+ expert to discuss how this offering can enhance your FX strategies and to prepare for onboarding.
