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CME didn't offer any reason for ending the venture, which had been billed as a centrally cleared, global foreign exchange platform for the over-the-counter market. But there had been speculation in recent months that FXMarketSpace's trading volumes had proven lower than anticipated and that the venture might fold.
All trading on the platform will be suspended at the close of business Oct. 17, CME and Thomson Reuters said, and in coming months both partners will work closely with FXMarketSpace "to ensure an orderly wind down of existing business operations."
The partners in the unsuccessful venture said they "remain committed to offering innovative solutions to the rapidly growing over-the-counter forex exchange market" and vowed to continue working together to explore "clearing and operational efficiencies for their customers."
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