CME Group has announced plans to launch CME FX Tape+ later this year, aiming to deliver centralised reference prices and a broad view of FX market liquidity. The service will consolidate data from CME’s central limit order book (CLOB) platforms, including FX futures, EBS Market, FX Spot+, and FX Link. Drawing on a network of 1,400 institutions and over 100,000 FX market participants, the initiative is designed to address fragmentation in the FX market and improve pricing transparency.
CME FX Tape+ will provide real-time reference prices derived from firm, actionable liquidity rather than indicative or curated sources. Covering 10 major currencies at launch, the system will feature a composite mid-price calculated from trades, quotes, and mid-rates across CME’s platforms. Data will be available at 250-millisecond intervals via a websocket API and historical files, enabling market participants to better benchmark trading strategies and assess execution costs.
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