Forex Talking

Forex Market Space:-

This entity represents a collaborative effort between two foreign currency industry leaders: Reuters and the Chicago Mercantile Exchange (CME).

This venture is expected to launch in 2007. What it will do is facilitate spot trading transactions on six major currencies against the U.S. dollar: the euro, the Japanese yen, the British pound, the Australian dollar, the Swiss franc, and the Canadian dollar. Four cross-currency pairs will also be supported. Forex Market Space intends to add more products in forwards and options at a later date. Since the forex market has changed dramatically over the past few years, many players, such as hedge funds and commodity trading advisors who manage money, have entered the market with a new set of needs, one of which is order anonymity.

This concept will be the first over-the-counter FX trading platform to offer central counterparty clearing and full trade anonymity. Forex Market- Space will also be accessible through multiple portals, giving its users unprecedented breadth of access to its trading platform. These characteristics are expected to increase participation and to enhance liquidity in the forex market. Forex Market Space combines the central counterparty model and clearing function of the Chicago Mercantile Exchange with the global distribution network and direct processing capability of Reuters. It is supported by one of the best matching and clearing technology programs and offers industry-leading matching-engine capabilities provided by the CME.

Forex Market Space will reduce counterparty risk by being the buyer to every seller and the seller to every buyer by employing CME clearinghouse functionalities. If you bought this book to learn about the trading opportunities in the forex arena or even if you are a seasoned trading pro, look to learn some of my techniques. Keep your eyes and interest open on this new venture for currency trading; it promises to revolutionize the way we trade. It is like combining the best of futures and the spot forex market. Perhaps as it develops the centralized marketplace, we will have access to spot forex volume and will not need to worry about capturing that data from the futures market.