FEX Global Membership

FEX Global is in a pre-launch phase. The purpose of FEX Global is to operate a fully licenced electronic derivatives exchange venue located in the Asia-Pacific region providing efficient cleared markets in a diverse range of futures and option contracts. The FEX Global Operating Rules recognise two participation categories, Trading Participants and Clearing Entities.

Information in this section is relevant to entities wanting to become participants of the FEX Global Market. If you wish to transact in products quoted on the FEX Global Market, please contact a FEX Global Trading Participant.

For further information on Exchange membership and types of participation please access the information on this website or contact the FEX Global Participant On-Boarding team on +61 2 8024 5200.

 

Types of Participation

The FEX Global Operating Rules recognise two participation categories, Trading Participants and Clearing Entities.

An organisation can apply to be:

  • a Trading Participant,
  • a Clearing Entity or,
  • both, a Trading Participant and a Clearing Entity.

 

Trading Participants

An organisation can apply to be either:

  • a standard Trading Participant, which is authorised to transact on behalf of clients as well as on their own behalf,
  • or a Principal Trader, where a Principal Trader may only transact on their own account and not on behalf of clients.

Each applicant for Trading Participant status to the FEX Global market must demonstrate that they have established or are establishing clearing and settlement arrangements with a Clearing Entity recognised by both FEX Global and CME Group before their Trading Participant status will be enabled.

Where a Trading Participant wishes to be recognised by FEX Global as a market maker, a separate and additional arrangement to a Principal Trader agreement will need to be completed. This arrangement may be undertaken in parallel with a participant’s application to be a Principal Trader.

 

Clearing Entities

CME Group provides the FEX Global Market with Clearing & Settlement arrangements for its market.

Any entity applying to be a Clearing Entity on the FEX Global Market will need to establish membership with CME Group directly. A Clearing Entity will also need to ensure that the general clearing membership granted by CME Group is extended to specifically include the FEX Global Market.

In addition, a clearing organisation will need to apply to FEX Global to be recognised as a Clearing Entity under the FEX Global Operating Rules.

A Clearing Entity will need to demonstrate a contractual arrangement with a Trading Participant for configuration purposes prior to the commencement of trading.