BGC Group, Inc. (NASDAQ:BGC) and ten of the world’s leading investment banks and market-making firms today announced the successful launch of FMX Futures Exchange.
The exchange is now open for trading SOFR futures and will add U.S. treasury futures in the first quarter of 2025.
“We are excited to introduce real competition to the U.S. SOFR futures market and provide clients with much-needed innovation, superior pricing, and dramatically improved capital efficiency,” said Howard W. Lutnick, Chairman and CEO of BGC Group and Chairman of FMX Holdings, LLC. “This is the first U.S. interest rate futures exchange to launch with a fully operational, globally connected, state-of-the-art trading system, along with enormous capital savings driven by the LCH’s cross-margin capabilities. Together with our strategic partners, FMX is well-positioned to capitalize on this tremendous opportunity.”
The FMX Futures Exchange expects to provide clients with significant capital savings through its clearing partnership with LCH Limited, a fully approved CFTC Derivatives Clearing Organization and one of the largest clearers of interest rate swaps in the world.
Bank of America, Barclays, Citadel Securities, Citi, Goldman Sachs, J.P. Morgan, Jump Trading Group, Morgan Stanley, Tower Research Capital, and Wells Fargo are the equity partners of FMX Holdings, LLC.
