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On Sunday, May 18, 2025, BGC Group, along with ten leading investment banks and market-making firms, announced the launch of U.S. Treasury futures contracts on the FMX Futures Exchange. Trading for these contracts began on Monday, May 19, 2025.
Here are some key details about this launch:
* Contracts Launched: Initially, the exchange is offering 2-year and 5-year U.S. Treasury futures contracts.
* Previous Launch: FMX Futures Exchange first launched with SOFR (Secured Overnight Financing Rate) futures in September 2024.
* Strategic Importance: The addition of U.S. Treasury futures is a significant step for FMX, providing global institutional clients with an important tool for managing interest rate risk. These clients include major banks, investment firms, and other market participants.
* Clearing Partnership: FMX has partnered with LCH Limited, a major global clearinghouse for interest rate swaps and a CFTC-approved Derivatives Clearing Organization. This partnership is expected to provide clients with substantial capital savings through cross-margining opportunities.
* About FMX Holdings: The FMX Futures Exchange is part of FMX Holdings, LLC, which also operates a rapidly growing spot foreign exchange platform and what is described as the world’s fastest-growing cash U.S. Treasuries marketplace.
* Strategic Goal: FMX aims to become a comprehensive trading venue across multiple asset classes and to introduce competition to the U.S. interest rate futures market.
* Technology: FMX leverages BGC’s Fenics trading technology, which is designed for high performance and scalability.
This launch marks a significant development in the U.S. interest rate futures landscape, potentially offering increased competition and efficiencies for market participants.

Video courtesy of CSOB

Video courtesy of CSOB