Reuters and CME to set up FXMarketSpace

The platform, FXMarketSpace, will be launched by a new joint venture (JV) company in which the two will hold an equal stake. The JV will use the data dissemination, distribution, trade matching and central counterparty clearing capabilities of Reuters and the CME.

Devin Wenig, president of the business division at Reuters, said the platform is being established in response to significant developments in the FX market seen over the past couple of years. These include the rise of financial ins