Fixed Income Solutions reposted this
Today, BGC Group (Nasdaq: BGC) officially launches the FMX Futures Exchange, shaking up the U.S. interest rate futures market by bringing real competition. Our state-of-the-art trading system and proprietary cross-margining capabilities through our clearing partnership with LCH puts us in a unique position to tackle the CME’s monopoly. Our ten extraordinary partners, including some of the world’s largest banks and market makers, will help us create a great futures exchange. Starting today the CME Futures Exchange has competition and it is called FMX.
The FMX Futures Exchange is now open! As the newest addition to BGC Group's growing suite of FMX offerings, we are excited to announce the listing of SOFR futures. The FMX Futures Exchange introduces real competition and increased resilience to the futures market, while providing much-needed innovation and superior pricing along with increased margin efficiencies, through our partnership with LCH. Together with our strategic partners, the FMX Futures Exchange is well-positioned to capitalize on this enormous opportunity. This is just the beginning - plans are already in place to add U.S. treasury futures into the mix early next year. https://fmxfutures.com/
BGC has been onboarding our technology for over 5 years. Hopefully Howard is a little faster getting FMX customers onboarded!!
Proud that you and FMX and its members are challenging a Monopoly. Congrats and Good Luck!
Great work Howard!
Congrats Howard W.!
Congrats and Mazal Tov
Congrats Howard W.!
Managing Director Lake Securities at BGC Partners
2moIt’s been a journey. Amazing new tool for the market.