This topic provides information on CME FX Spot Plus (CME FX Spot+) for futures markets.

In March 2025Effective Sunday, April 13 (trade date Monday, April 14), CME Group will launch CME FX Spot+, a new tradable FX spot instrument, leveraging CME FX Link liquidity to bring together OTC spot FX and FX futures.

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Revision History

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Date

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Date	Description
January 29, 2025	Production date updated to Sunday, April 13, 2025 (trade date April 14).
January 28, 2025	For Tags 5542 and 5971: added note “This tag is NOT sent in the Execution Report response to an iLink 3 Execution Report - Trade Spread Leg message.“
January 27, 2025	The FX Spot+ Product code USDCNH's FX Spot+ Symbol is changed to USDCNHZ5028.
December 5, 2024	Removed "iLink 3 Execution Report - Trade Spread" from CME FX Spot Plus - Futures#Binary Binary Trade Reporting.
November 20, 2024	Added info box under CME FX Spot Plus - Futures#Binary Binary Trade Reporting: "The non-tradable FX Spot Leg of CME FX Link spread will also support binary trade reporting."
November 13, 2024	Added info box under CME FX Spot Plus - Futures#Testing Testing and Certification: "The new AutoCert supplemental test suite will be available for customer certification on Monday, December 9, 2024." Added info box under CME FX Spot Plus - Futures#New New CME FX Spot+ MBO/MBP UDP Channel: "The new CME FX Spot+ MDP 3.0 channel ID 330 will be supported on CME Smart Stream on GCP." Under CME FX Spot Plus - Futures#Security Security Definition, changed to:  Minimum Order Size, Maximum Order Size, and Minimum Order Increment will be specified in notional terms in the security definition message.
November 1, 2024	From CME FX Spot Plus - Futures#New New CME FX Spot+ MBO/MBP UDP Channel, removed info box "With this launch, the non-tradable FX Spot leg (tag 1151-SecurityGroup=01, 10) will move from MDP 3.0 channel 314 to 330." In CME FX Spot Plus - Futures#Security Security Group table, added columns Existing MDP 3.0 Channel and New MDP 3.0 Channel.CME FX Spot Plus - Futures#Additional Additional Consideration table Futures Product Code CNH updated Futures Group Code and Link Spread Group Code to "RM."
October 31, 2024	Updated note below CME FX Spot Plus - Futures#Product Product: "The USD/South African Rand and USD/Offshore Chinese Renminbi FX Spot leg are only tradable as part of the CME FX Link spread."
October 30, 2024	Added note "New Release customers will have the ability to test 3-deep implied book for FX Spot+ in February 2025. Currently, only 2-deep implied book is supported in New Release." Added note "With this launch, the non-tradable FX Spot leg (tag 1151-SecurityGroup=01, 10) will move from MDP 3.0 channel 314 to 330." Changed CME FX Spot Plus - Futures#Security Security Group for 6E and 6C to 01. Updated CME FX Spot Plus - Futures#Display Display Factor table with 3 additional rows at bottom.  Added section New CME FX Spot+ MBO/MBP UDP Channel.
October 25, 2024	Added FX Spot+ Product Code USDCNH. Added FX Spot+ Currency Pair USD/CNH. Added Futures Product Code 6Z and CNH.
October 9, 2024	Modified descriptions for Tags 1795, 1802, 1800, 5542, and 5971. Added new table under CME Reference Data API Changes.  Under Product Attributes, numbers changed for Min Order Cancel Threshold columns.
October 7, 2024	Changed value Max Order Size for FX Spot+ Product Code NZDUSD from 5,000,000 to 3,000,000.
July 17, 2024	Initial publication of topic.

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Date	Milestone
November 11, 2024	Available in New Release For the complete release schedule, please see CME FX Spot Plus Launch Schedule in New Release.
December 9, 2024	A new CME FX Spot + certification suite will be available in AutoCert+
March April 13, 2025	Available in Production

Testing and Certification

For futures client systems to support trading FX Spot+ products:

• iLink 3 certification via AutoCert+ is not required. However, CME Group strongly recommends futures client systems to test FX Spot+ trading in notional quantity.

• MDP 3.0. certification is required. Client systems who want to trade the FX Spot+ product will need to complete the supplemental test suite.

• CSET will configure credit setup to enable testing.

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• Supported over existing CME network gateways and connectivity circuited access.

• FX Spot+ market data disseminated in notional terms.

• The market data info will follow futures-style market data except where noted in the CME FX Spot Plus - Futures#MDP MDP 3.0 Market Data section.

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In the event of a partial fill with remaining quantity less than the auto-cancel threshold notional, CME Globex cancels the remainder. Upon cancellation, CME Globex sends an unsolicited Order Cancel Acknowledgment message (tag 35-MsgType=8, tag 39-OrdStatus=4) with tag 378-ExecRestatementReason=108 (Cancel due to resting order quantity less than minimum order size) 

The auto-cancel threshold attributes are added to CME Reference Data API Version 3.

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Security Exchange

Tag 207-SecurityExchange value "GLBX" is sent for the FX Spot+ instruments in the MDP 3.0 Security Definition (35=d) message.

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The following fields are required for FX Spot+ orders:

• tag 1693-PartyDetailRole=24 (Customer Account)

• tag 582-CustOrderCapacity

• tag 1816-ClearingAccountType

• tag 1031-CustOrderHandlingInst

• tag 9537-Location

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• Tag 1147-UnitOfMeasureQty will be specified as 1 to reflect trading in notional value.

• Minimum Order Size (tag 562-MinTradeVol), Maximum Order Size (tag 1140 - MaxTradeVol), and Minimum Order Increment (tag 1231-MinLotSize & tag 1093-LotType = 5) will be specified in notional terms in the security definition message.

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• Summary Level repeating groups(1st repeating group)

  • Trade price (tag 270-MDEntryPx)

  • Trade quantity (tag 271-MDEntrySize)

  • Number of orders (tag 346 - NumberOfOrder)

  • Aggressor side (tag 5797 - AggressorSide) 

  • Trade reference id (tag 37711-MDTradeEntryID)

• Order Detail repeating group(2nd repeating group)

  • Order Id (tag 37-OrderID)

  • Quantity filled (tag 37-LastQty)

Electronic Trade Volume 

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