FXMarketSpace, the first global platform providing central clearing for the over-the-counter foreign exchange market, opened for trading today. Mark Robson, CEO of the new joint venture between the Chicago Mercantile Exchange and Reuters Group PLC, said 12 clearing prime brokers are already live on FXMarketSpace and eight more are expected to join soon. The platform has 76 customers, including most major global investment banks with forex operations at launch.
The platform enables trading in spot foreign exchange across six major currencies — the euro, yen, pound sterling, Australian dollar, Swiss franc and Canadian dollar — against the U.S. dollar, as well as four cross-currency pairs.
