{"id":7418,"date":"2025-12-09T17:51:18","date_gmt":"2025-12-09T23:51:18","guid":{"rendered":"https:\/\/librarytestdev.wpenginepowered.com\/?post_type=doc&#038;p=7418"},"modified":"2025-12-16T17:35:43","modified_gmt":"2025-12-16T23:35:43","slug":"fmx_ustf-overview","status":"publish","type":"doc","link":"https:\/\/library-staging.tradingtechnologies.com\/setup\/exchanges-americas\/fmx_ustf\/description-fmx_ustf\/fmx_ustf-overview\/","title":{"rendered":"FMX_USTF overview"},"content":{"rendered":"\n<!-- pages using refernce-tab-list layout will not trigger this condition. The Heading will be set in that layout file-->\n\n  \n     <!-- in source YML header, should also match the filename\/url -->\n       \n        \n\n        \n      \n          \n      \n\n\n <!-- pages using refernce-tab-list layout will not trigger this condition. The Heading will be set in that layout file-->\n\n  \n    \n\n\n\n\n\n\n\n \n\n<div>\n\n<p>FMX Futures Exchange, L.P., is a designated contract market registered with and regulated by the CFTC. FMX Futures Exchange provides fully electronic trading on US Treasury and SOFR futures. FMX Futures Exchange has established a clearing agreement with LCH, which holds the largest pool of cleared interest rate swaps in the world, and it is anticipated that the participants on the FMX Futures Exchange will experience material clearing and cross-margin efficiencies.<\/p>\n\n<p>The FMX_USTF market on TT supports trading of FMX US Treasury Futures.<\/p>\n  \n\n<h2>FMX_USTF Exchange API Support<\/h2>\n\n<p>TT\u00ae supports the following:<\/p>\n\n<ul>\n  <li>Prices: BIMP (Binary Market data feed)<\/li>\n  <li>Orders: FIX feed<\/li>\n<\/ul>\n\n<h2>FMX_USTF Matching Algorithms<\/h2>\n\n<p>All orders are matched with each other and executed electronically through the Exchange Trading System in accordance with FIFO, i.e. opposing orders are matched according to price and submission time rules.<\/p>\n\n<h2>FMX_USTF Matching Engine<\/h2>\n\n<p>The matching engine for the FMX UST futures will be located at NY4, alongside the matching engine for Fenics UST (FUST) cash treasuries. This co-location will result in ultra-low latency when trading futures vs cash basis, and a significant reduction in the costs associated with legging risk.<\/p>\n\n<h2>FMX_USTF Market Depth<\/h2>\n\n<p>Currently, the exchange provides a maximum of twenty (20) levels of market depth for all products. TT receives market depth directly from the exchange and forwards it to the client trading applications.<\/p>\n\n<h2>FMX_USTF Trading Hours \/ Trading Sessions<\/h2>\n\n<p>Trading Hours: Sunday night through Friday, 6:00 PM &#8211; 5:00 PM Eastern Time (NY)<\/p>\n\n<h2>Unsupported Exchange Functionality<\/h2>\n\n<p>The following Fenics Markets Xchange (\u201cFMX\u201d) Future Exchange functionality is not supported on TT:<\/p>\n\n<ul>\n  <li>Post trade functionality of FMX, which is used to get a snapshot of all the matched trades done on a trading session on a trading day.<\/li>\n  <li>Post-only orders<\/li>\n<\/ul>\n\n<h2>Connectivity Options<\/h2>\n\n<p>The TT\u00ae platform provides connectivity to the exchange, so you do not have to contact the exchange regarding connectivity options. Refer to <a href=\"\/user-setup\/tt-access-overview.html\">TT Access<\/a> for more details about your connectivity options for connecting to TT.<\/p>\n\n\n\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p><!-- pages using refernce-tab-list layout will not trigger this condition. The Heading will be set in that layout file--><\/p>\n<p>     <!-- in source YML header, should also match the filename\/url --><\/p>\n<p> <!-- pages using refernce-tab-list layout will not trigger this condition. The Heading will be set in that layout file--><\/p>\n<div>\n<p>FMX Futures Exchange, L.P., is a designated contract market registered with and regulated by the CFTC. FMX Futures Exchange provides fully electronic trading on US Treasury and SOFR futures. FMX Futures Exchange has established a clearing agreement with LCH, which holds the largest pool of cleared interest rate swaps in the world, and it is anticipated that the participants on the FMX Futures Exchange will experience material clearing and cross-margin efficiencies.<\/p>\n<p>The FMX_USTF market on TT supports trading of FMX US Treasury Futures.<\/p>\n<h2>FMX_USTF Exchange API Support<\/h2>\n<p>TT\u00ae supports the following:<\/p>\n<ul>\n<li>Prices: BIMP (Binary Market data feed)<\/li>\n<li>Orders: FIX feed<\/li>\n<\/ul>\n<h2>FMX_USTF Matching Algorithms<\/h2>\n<p>All orders are matched with each other and executed electronically through the Exchange Trading System in accordance with FIFO, i.e. opposing orders are matched according to price and submission time rules.<\/p>\n<h2>FMX_USTF Matching Engine<\/h2>\n<p>The matching engine for the FMX UST futures will be located at NY4, alongside the matching engine for Fenics UST (FUST) cash treasuries. This co-location will result in ultra-low latency when trading futures vs cash basis, and a significant reduction in the costs associated with legging risk.<\/p>\n<h2>FMX_USTF Market Depth<\/h2>\n<p>Currently, the exchange provides a maximum of twenty (20) levels of market depth for all products. TT receives market depth directly from the exchange and forwards it to the client trading applications.<\/p>\n<h2>FMX_USTF Trading Hours \/ Trading Sessions<\/h2>\n<p>Trading Hours: Sunday night through Friday, 6:00 PM &#8211; 5:00 PM Eastern Time (NY)<\/p>\n<h2>Unsupported Exchange Functionality<\/h2>\n<p>The following Fenics Markets Xchange (\u201cFMX\u201d) Future Exchange functionality is not supported on TT:<\/p>\n<ul>\n<li>Post trade functionality of FMX, which is used to get a snapshot of all the matched trades done on a trading session on a trading day.<\/li>\n<li>Post-only orders<\/li>\n<\/ul>\n<h2>Connectivity Options<\/h2>\n<p>The TT\u00ae platform provides connectivity to the exchange, so you do not have to contact the exchange regarding connectivity options. Refer to <a href=\"\/user-setup\/tt-access-overview.html\">TT Access<\/a> for more details about your connectivity options for connecting to TT.<\/p>\n<\/div>\n","protected":false},"author":2,"template":"","meta":{"_acf_changed":false,"footnotes":""},"docs-category":[1431],"class_list":["post-7418","doc","type-doc","status-publish","hentry","docs-category-description-fmx_ustf"],"acf":[],"_links":{"self":[{"href":"https:\/\/library-staging.tradingtechnologies.com\/ja\/wp-json\/wp\/v2\/doc\/7418","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/library-staging.tradingtechnologies.com\/ja\/wp-json\/wp\/v2\/doc"}],"about":[{"href":"https:\/\/library-staging.tradingtechnologies.com\/ja\/wp-json\/wp\/v2\/types\/doc"}],"author":[{"embeddable":true,"href":"https:\/\/library-staging.tradingtechnologies.com\/ja\/wp-json\/wp\/v2\/users\/2"}],"version-history":[{"count":0,"href":"https:\/\/library-staging.tradingtechnologies.com\/ja\/wp-json\/wp\/v2\/doc\/7418\/revisions"}],"wp:attachment":[{"href":"https:\/\/library-staging.tradingtechnologies.com\/ja\/wp-json\/wp\/v2\/media?parent=7418"}],"wp:term":[{"taxonomy":"docs-category","embeddable":true,"href":"https:\/\/library-staging.tradingtechnologies.com\/ja\/wp-json\/wp\/v2\/docs-category?post=7418"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}