U.S. Treasury Futures

BGC Group launched FMX Futures Exchange on May 18, 2025, introducing 2- and 5-year U.S. Treasury futures with ten top institutions. Partnering with LCH Limited enables cross-margining efficiencies, integrating BGC’s existing cash Treasuries and FX platforms to create a multi-asset risk management ecosystem. The move angles to challenge CME’s dominance (85% market share) by offering tech-driven pricing and algorithmic tools, while addressing regulatory scrutiny of vertically integrated exchanges. With 17 asset classes and 2,000+ global institutions, the Infrastructure & Exchanges segment now underpins BGC’s Q2 earnings outlook.