AN INTEGRATED TRADING AND CLEARING SOLUTION
FMX combines the leading FMX UST, Repo and FX platforms with our new FMX Futures Exchange. FMX delivers an integrated trading solution, utilizing state-of-the-art trading technology and global infrastructure designed for speed and scalability. FMX Futures Exchange has partnered with LCH, a leading global clearing house holding the world’s largest Interest Rate Swap clearing pool.
Together, FMX offers a fully electronic cash U.S. Treasury and futures platform while providing market participants significant clearing and cross margin efficiencies.
INNOVATIVE TRADING PROTOCOLS HELPING TO REDUCE TRANSACTION COSTS
Matching Engines
The matching engine for SOFR futures is located at Cermak, while the matching engine for UST futures will be located at NY4, alongside the matching engine for FMX UST cash treasuries. This co-location will result in ultra-low latency when trading futures vs cash basis, and a significant reduction in the costs associated with legging risk.
Tighter Tick Sizes
Reduced tick sizes allow for tighter bid/ask spreads:
– SOFR: 1/4bp first 2 years
EXCHANGE FEES
FMX Futures Exchange has an initial zero-fee period at launch and will introduce a simplified fee schedule that will offer volume-based fee reductions with no membership requirements.
MARGIN RELIEF
Portfolio margin analysis provides for potentially significant Initial Margin offsets on eligible portfolios of FMX futures contracts and LCH-cleared swaps.