Dealers advancing electronic FX swaps trading on CME

They’re swaps, but not as we know them. Dealers such as Deutsche Bank are signing up to CME’s FX Link platform to trade replicas of over-the-counter foreign exchange derivatives. The German bank says it is using the service to help automate more of its FX swap pricing and, eventually, develop new execution algorithms.

FX Link was launched in 2018 as a way of connecting the OTC spot market with exchange-traded FX futures. The platform allows users to trade the spread between spot and futures via