FlexTrade Systems, a provider of multi-asset execution and order management systems, has integrated its FlexFX platform with CME Group’s EBS Market central limit order book (CLOB) and its FX Spot+ platform, aiming to diversify and deepen the sources of actionable liquidity available to its users.
The integration is designed to leverage CME Group’s significant liquidity pools for spot foreign exchange via FX Spot+. EBS Market offers firm, anonymous liquidity and no last-look pricing, serving as a venue for large market participants seeking FX liquidity within an all-to-all CLOB, as well as for market-making banks managing FX risk.
FX Spot+ further enhances spot liquidity by incorporating futures liquidity from CME Group. This collaboration aims to help firms expand their FX liquidity access and capitalize on global opportunities.
Mutual clients of FlexTrade Systems and CME Group can now integrate FX Spot+ and EBS Market liquidity directly into their existing FlexFX workflows, which is intended to accelerate time to market and reduce operational complexity. By combining these new execution sources with FlexFX’s automation capabilities, particularly through FlexAlgoWheel, clients are provided with more data and routing options to optimize price, speed, and execution quality.
Paul Houston, Global Head of FX Products at CME Group, stated that the past 12 months have underscored the critical role EBS Market plays in the FX market. He noted that through FlexTrade’s interfaces, mutual clients can more easily interact with the firm pricing available on EBS Market’s anonymous spot and NDF liquidity, alongside FX Spot+, which grants spot traders access to the futures ecosystem and FX futures liquidity in a spot format.
Uday Chebrolu, SVP – FX and Digital Assets at FlexTrade Systems, commented that innovations and partnerships drive demand for bringing more FX liquidity into the Execution Management System (EMS) to optimize electronic trading. He added that this influx of data continuously improves trading performance, efficiency, and speed, and that integrating CME Group’s solutions helps FlexFX clients maximize their use of multi-asset offerings for greater trading efficiencies.
