CME Group to establish unified global NDF trading venue
International derivatives marketplace CME Group today announced that it will combine its two non-deliverable forward (NDF) liquidity pools on the EBS Market platform onto a single trading venue in October 2024, subject to regulatory approval.
The combination will bring market participants across regulatory jurisdictions into a unified global trading environment, supporting improved market efficiency and enhancing EBS’s role as the leading source of centralized liquidity and price discovery in NDFs.
“Amid continued fragmentation and rising complexity within the global FX market, the need for a unified, globally accessible primary trading venue in NDFs is greater than ever,” said Paul Houston, Global Head of FX Products, CME Group. “Combining our two leading NDF trading platforms will improve access for participants around the world while expanding liquidity, improving price discovery and providing operational efficiencies for the marketplace.”
EBS Market was the first venue to offer electronic NDF trading on a central limit order book in 2007. Customers have the ability to trade 1-month Asian NDFs, LatAm NDFs and African NDFs on the platform.