CME Group and Digital Vega have launched a new FX options block trading service, currently available for client testing. This service allows buy-side firms to use Digital Vega’s Medusa platform for trading FX options on futures, integrating seamlessly with existing OTC workflows. Market participants can now request quotes and trade blocks of centrally cleared FX options, which offer greater margin efficiency compared to traditional OTC options, particularly for those adhering to Uncleared Margin Rules.
Chris Povey, Executive Director and Head of FX Options at CME Group, highlighted the significance of this development, stating, “This partnership simplifies access to our centrally cleared FX options, using familiar OTC workflows, and enhances market liquidity without requiring bilateral credit relationships.”
Mark Suter, Executive Chairman and Co-Founder of Digital Vega, emphasized the benefits for both buy-side and sell-side participants, noting, “Our platform offers familiar pricing and execution formats, deep liquidity, and mitigates counterparty credit risk. The automated transaction reporting and comprehensive post-trade analytics further streamline the trading process.”
Digital Vega, a leader in electronic FX options trading, continues to innovate and expand its offerings in response to evolving market demands and regulatory changes. Established in 2010 and headquartered in London, the company operates Medusa, Hydra, and Vega platforms.
CME Group, a global leader in derivatives trading, provides a wide range of futures, options, and clearing services, supporting market participants in managing risk and seizing opportunities across diverse asset classes.
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