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CME Group Announces Integration of FX Link with RTN and MarkitSERV

The Group is planning to increase access to cleared FX swap liquidity.

CME Group, a leading derivatives marketplace, announced today that the company has integrated its FX Link platform with the Refinitiv Trade Notification (RTN) and IHS Markit’s MarkitSERV messaging services.

According to the official announcement, the new collaboration has enabled FX Link customers to receive OTC spot FX messages directly through RTN or MarkitSERV. CME Group mentioned that the integration was completed in March 2021.

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The US-based Group highlighted that Goldman Sachs, one of the leading investment banks worldwide, is currently using the newly integrated service for price discovery and to access additional liquidity for FX swaps in eight currency pairs.

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Commenting on the latest announcement, Jan Scheffel, Co-Head of Global Short Term Macro Trading at Goldman Sachs, said: “We are excited to have access to FX Link as a marketplace for capital-efficient FX swap trading, and the ability to use RTN for the spot leg messaging has enabled us to easily onboard and to keep the messaging consistent with other ECNs.”

CME Group has expanded its services significantly since the start of this year. The derivatives marketplace introduced Ethereum futures contracts in February 2021. The Group is also planning to launch micro Bitcoin futures contracts in May to expand its product offering.

FX Swap Liquidity

In the official press release, CME Group mentioned that its main focus is to enhance access to cleared FX swap liquidity through the latest integration. Founded in 2007, CME Group is currently offering services in various financial products. The FX Link service of CME is currently supporting eight leading currency pairs. “We recognize how important automation and ease of connectivity is for our customers, and we continue to invest in enhancements to provide flexible access to the growing FX Link marketplace. By integrating with RTN and MarkitSERV, a larger group of market participants are able to use FX Link, a cleared and capital-efficient pool of firm liquidity for FX swaps,” Paul Houston, Global Head of FX Products at CME Group said in the press release.

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