The Chicago Mercantile Exchange announced plans to provide access to the CME’s electronic foreign exchange (eFX) markets on the Reuters Dealing 3000 screen. A phased roll-out will begin in the fourth quarter in London and continue across Europe, Asia and north America thereafter.
Under the agreement, CME’s eFX markets will be accessed through Reuters Dealing 3000 desktop. Quotes on CME’s eFX products will appear in spot equivalent terms, facilitating price comparisons between the two markets, which CME and Reuters hope will bring improved pricing efficiencies to both. Banks will also be able to trade with non-bank participants in a credit enhanced environment.
The partnership will allow for ease of access to the cash and futures markets simultaneously, and will help traders across the world gain admission to the new emerging markets currencies by getting the products to banks located in remote countries, such as Poland and the Czech Republic, a spokesperson for the CME said.
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