UNITED STATES: CME Group Integrates FX Link with RTN and IHS Markit’s MarkitSERV to Enhance Access to Cleared FX Swap Liquidity

Wednesday April 21 2021

On 21^st April 2021, the Chicago Mercantile Exchange (CME) Group announced that it has integrated its FX Link platform with the Refinitiv Trade Notification (RTN) and IHS Markit’s MarkitSERV messaging services.

By connecting with Refinitiv and IHS Markit, FX Link customers can now receive OTC spot FX messages directly via RTN or MarkitSERV which will streamline onboarding and meet their Straight Through Processing (STP) requirements.

The integration was completed in March 2021 and is now being used by banks such as Goldman Sachs for price discovery and to access additional liquidity for FX swaps in eight currency pairs.

CME FX Link provides a complementary pool of liquidity to bilateral FX swaps that is available in a central limit order book on a credit agnostic, all-to-all basis with truly firm pricing. It combines an OTC spot transaction on the near leg with a centrally cleared and capital efficient FX Future on the far leg. FX Link currently supports eight currency pairs, which combined account for 69% of the FX swaps market according to the most recent BIS survey.

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