CME Group is planning to change the time that its FX options expire to 10 am EST.
This change will begin with contracts expiring after June 9, 2019, and means that clients across time zones will be able to trade listed options that expire at the same time as most OTC contracts.
“Aligning to the 10 am New York OTC convention makes it easier for global clients to take advantage of CME Group’s leading electronic FX options platform and transfer risk more seamlessly between OTC and our cleared, deliverable solution,” says Paul Houston, CME Group global head of FX products. “As more institutions need to comply with uncleared margin rules, we’re extremely focused on providing a regulated FX options solution that is capital efficient.”
The change will take place for newly listed contracts. The first FX options contracts to be listed with the new expiration time will be the September 2019 contracts, available to trade on September 9, 2018.