Jonathan Weinberg, Head of Cboe FX said:
With no average daily volume requirements, Cboe FX Central provides a more democratic model to access real-time data than the current primary markets where real-time data is provided to those that execute a certain monthly volume threshold. Any market participant on Cboe FX Central, regardless of the size or volume of its trading activity, is able to earn faster market data on Cboe FX Central on an order-by-order basis. Additionally, this model incentivizes liquidity providers to improve the quality and depth of our order book, benefitting all market participants by their receiving better prices for their orders.
Cboe FX Central employs order matching mechanics , consistent with other central limit order books in the FX market. The minimum quote life of all orders in the books is 25 milliseconds and orders are executed on a price (displayed then hidden) / time priority.
Cboe FX’s addition to the comprehensive suite of trading services Central Cboe FX offers responds to the diverse needs of the FX trading community including order book (Cboe FX Central), sweepable order book with curated firm and non-firm liquidity (ECN) and full amount trading providing a solution for larger order risk transference with low market impact (Full Amount).
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