- CME Group (CME, Financial) announces the launch of FX Tape+ for enhanced FX market transparency.
- FX Tape+ will cover 10 major currencies with real-time data updates every 250 milliseconds.
- The service leverages a network of over 1,400 institutions and 100,000 active market participants.
CME Group (CME), the world’s leading derivatives marketplace, has unveiled plans to launch FX Tape+, a new service aimed at providing centralized reference prices and comprehensive liquidity information for the foreign exchange (FX) market. Set to launch later this year, this service will aggregate data from CME's transparent marketplaces including FX futures, EBS Market, FX Spot+, and FX Link.
FX Tape+ is designed to enhance market transparency by offering a composite 'true' spot mid-price for 10 major currencies. This composite price combines liquidity, trades, and mid-rates, providing an unbiased view based on firm liquidity from CME's FX spot and futures markets. Unlike existing industry sources that provide curated pricing from less transparent platforms, FX Tape+ focuses on actionable firm liquidity.
Data dissemination for FX Tape+ will occur at intervals of 250 milliseconds through a websocket API and historical market data files, facilitating real-time data access for algorithmic traders and institutional users. This high-frequency update capability positions CME Group's offering as a valuable tool for assessing trading costs and execution quality in the FX market.
By capitalizing on an extensive network of over 1,400 institutions and 100,000+ active market participants, CME Group aims to address the FX market's opacity issues and set a new benchmark for transparency in market data services.
