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CME Group has announced the launch of a new product suite, CME FX link, that enables positions in the OTC FX market to be switched, by a single trade, into an FX future on the CME exchange.

CME FX link will start trading in Q1 2018 and will be the first central limit order book established between the over-the-counter (OTC) spot FX market and a listed futures market.

Paul Houston, global head of FX products at CME Group, described the link as "an exciting and important new product".