Trading Protocols

FX Platforms

ECN

Cboe's anonymous Order Book model, built on award-winning technology, features customized liquidity solutions designed to optimize the trading experience for market makers and liquidity takers.

Spot
SEF

Liquidity

Sweepable

Firm

Non-Firm

Execution

Anonymous

Disclosed

Aggressive

Passive

Curated

Products

Spot

Metals

NDFs

Data

GUI

FIX Bookfeed

ITCH

Quotes from global FX's top bank and non-bank LPs, combined with buy-side passive interest, create deep, liquid markets with quality execution opportunities
Participants may choose to interact with Firm or Non-Firm liquidity, or a combination of both on each of Cboe's independent NY5 and LD4 platforms
A comprehensive set of connectivity options, both direct and through partner middleware providers, provide access to a secure, stable, low-latency environment

Clearly defined Market Maker Standards, published daily volumes, and adherence to the FX Global Code highlight Cboe's commitment to transparency
Cboe's credit structure, powered by FX's leading banks and prime brokers, features pre-trade risk controls and seamless management between our NY5 and LD4 venues

Full Amount

Cboe's Full Amount protocol ensures minimal information leakage and reduced slippage with single-ticket 'full amount' executions. Streaming quotes from the market's premier liquidity providers are consolidated into a best bid/offer at various size levels, resulting in an efficient tool to access and manage liquidity.

Spot
SEF