CME Group is launching a tool connecting US Treasury futures and cash liquidity.
Expected to go live in Q4, Treasury Link facilitates centralised spread trading between CBOT Treasury futures and BrokerTec cash equities. It will be available through CME’s electronic trading platform CME Globex.
The service will allow users to manage their Treasury exposure through a single spread, which CME says will reduce friction, improve capital efficiency and eliminate legging risk. It has been built on the same structure as CME FX Link, which was released in Q1 2018.
“This functionality offers improved execution performance, pairing with CME Group Capital efficiencies which total $27 billion across cash, futures and swaps,” said Mike Dennis, global head of fixed income at CME.
In the first half of 2026, CME has seen the average daily volume (ADV) of interest rate futures and options contracts traded rise by 9% year-on-year (YoY) to 16.6 million. Total ADV at BrokerTec was US$1.067 trillion, up 13% YoY.
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