The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms and Conditions.


All material subject to strictly enforced copyright laws. © 2021 Euromoney, a part of the Euromoney Institutional Investor PLC.
Foreign Exchange

The cost of FXMarketSpace?

UPDATE: CME and Thomson Reuters confirm closure of FXMarketSpace
October 10, 2008


Few players in FX are surprised that the CME has apparently decided to pull its support from FXMarketSpace – exclusively revealed by theweeklyFiX this week but which the exchange has yet to confirm – given that it has always struggled to attract activity.

At the time the joint venture was announced in May 2006, the exchange and its joint-venture partner Reuters (now Thomson Reuters) detailed the financial implications of what they termed, “the next phase in the evolution of the global FX market.”

They both agreed that they would contribute up to $45 million, “to fund the venture through to profitability. The business plan anticipates two roughly equal amounts of capital contribution, in 2006 and 2007.”

The companies added: “CME and Reuters expect their respective shares of start up losses to be $20 million to 25 million, with around $5 million of this expected in 2006. The joint venture is expected to achieve profitability during 2008.”

Looking at the CME's published results, it can be seen that FXMS cost it $13.876 million in 2006 and a further $18.973


You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree