CME to Extend Block Trade Reporting Window for FX Futures to 15 Minutes

CME, one of the world's leading and most diverse derivatives marketplace, announced that it has decided to increase the block trade reporting window for all FX futures contracts during RTH from five minutes to fifteen minutes.

According to the statement, the extension will allow the reporting window for all FX futures and options block transactions submitted for clearing via CME ClearPort to be fifteen minutes during all hours, including RTH, ATH, and ETH.

Block trades are privately negotiated futures, options or combination transactions that meet certain quantity thresholds which are permitted to be executed apart from the public auction market.

After a block trade is consummated, it must be submitted to the exchange via CME Direct or CME ClearPort within 5 or 15 minutes, depending on the product. Specific reporting times are set forth in the Market Regulation Advisory Notice on block trades.

This may be done by each of the counterparties to the trade or through the broker. Once submitted, provided that the trade terms match, the price report of the block trade will be disseminated to the marketplace and appropriate clearing functions will be completed.

The extension will be effective on trade date Monday, February 22, 2021, and pending all relevant CFTC regulatory review periods.