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Foreign Exchange

CME does it for me

This week, I received a very nice e-mail from the CME.

Dear Lee,

If you're looking for superior speed, liquidity, transparency and security of trading, look no further than CME FX,” it said.

“Our platform continues to experience dynamic growth. Last quarter, the company delivered record FX volume, which rose 36 percent to a daily record notional value of $80 billion, making CME the second largest pool of FX liquidity in the world. And over the past three years CME’s FX product line has experienced a compounded annual growth rate over 50 percent, compared to the overall market's 15 percent,” it added.

I replied: “Great, I’m sold. It sounds fantastic. Now given that you have so much liquidity, such a good matching engine and the CCP, can you explain the attraction of other platforms, because I’ve got really confused by it all.” Cue telephone calls from the exchange asking if I had a specific question I wanted answered.

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