Revolutionizing the Interest Rate Futures Market: FMX Futures Exchange Set to Launch

In a groundbreaking move, BGC Group, Inc. (Nasdaq: BGC) and 10 of the world's leading investment banks and market-making firms have announced the highly anticipated launch of the FMX Futures Exchange ("FMX"). This new exchange, set to debut on September 23, 2024, will revolutionize the trading of U.S. interest rate futures, the most widely traded futures contracts globally.

Unlocking Unprecedented Opportunities in the Interest Rate Futures Market

Pioneering a New Era in Interest Rate Futures Trading

The launch of FMX Futures Exchange marks a significant milestone in the financial industry. By providing a dedicated platform for U.S. interest rate futures, FMX aims to offer clients unparalleled access, efficiency, and cost savings. The exchange will initially focus on SOFR futures, with plans to expand into U.S. Treasury futures in the first quarter of 2025, further solidifying its position as a comprehensive solution for interest rate futures trading.FMX's strategic partnership with LCH Limited, a leading CFTC-approved Derivatives Clearing Organization, is a key differentiator. By leveraging LCH's extensive experience and $225 billion in interest rate swap collateral, FMX clients can expect significant capital savings through cross-margining eligible U.S. interest rate futures. This innovative approach promises to redefine the landscape of interest rate futures trading, providing market participants with unparalleled efficiency and cost-effectiveness.

Driving Liquidity and Transparency in the Interest Rate Futures Market

The launch of FMX Futures Exchange is poised to have a transformative impact on the interest rate futures market. By bringing together the expertise and resources of BGC Group and 10 of the world's premier investment banks and market-making firms, FMX is set to become a hub of liquidity and transparency.The diverse ownership structure, which includes industry heavyweights such as Bank of America, Barclays, Citadel Securities, Citi, Goldman Sachs, J.P. Morgan, Jump Trading Group, Morgan Stanley, Tower Research Capital, and Wells Fargo, ensures that FMX will benefit from the collective knowledge, networks, and market-making capabilities of these industry leaders. This collaborative approach is designed to foster a highly liquid and efficient trading environment, catering to the diverse needs of a wide range of market participants.

Expanding the Ecosystem: FMX as Part of the BGC Group

FMX Futures Exchange is a part of the broader FMX Holdings LLC, which includes the world's fastest-growing cash U.S. Treasuries marketplace and a rapidly expanding spot Foreign Exchange platform. This integrated ecosystem, under the umbrella of BGC Group, Inc., positions FMX as a comprehensive solution for clients seeking to navigate the complex and interconnected world of fixed income, foreign exchange, and related asset classes.By leveraging the expertise and resources of the BGC Group, FMX Futures Exchange can offer clients a seamless and integrated trading experience, providing access to a diverse range of products and services. This holistic approach empowers market participants to optimize their trading strategies, manage risk, and capitalize on opportunities across multiple asset classes, all within a single, trusted platform.

Embracing the Future of Interest Rate Futures Trading

The launch of FMX Futures Exchange represents a transformative moment in the interest rate futures market. By combining cutting-edge technology, strategic partnerships, and the collective expertise of industry leaders, FMX is poised to redefine the way market participants engage with U.S. interest rate futures.As the exchange goes live on September 23, 2024, it will offer clients a unique opportunity to access a highly liquid, transparent, and cost-effective trading environment. With the ability to cross-margin eligible U.S. interest rate futures with LCH's extensive interest rate swap collateral, FMX promises to deliver significant capital savings and operational efficiencies.This innovative exchange is not just a game-changer for the interest rate futures market; it is a testament to the industry's commitment to driving progress, fostering collaboration, and empowering market participants to navigate the evolving financial landscape with confidence and success.

Reclaiming Indigenous Narratives: A Collective Vision for the Land

In a captivating urban courtyard along Wilshire Boulevard in Los Angeles, a group of six emerging Native architectural and graphic designers have come together to create a powerful and immersive exhibition that challenges the dominant narratives surrounding the land. "We Carry the Land" is a testament to the resilience, creativity, and deep connection to the earth that these designers bring to the table, weaving together their diverse cultural heritages and design practices to reimagine the built environment.

Reclaiming the Land, Redefining the Narrative

Bridging Cultures, Connecting Homelands

The exhibition is the collective vision of Celina Brownotter (Standing Rock Sioux Tribe), Anjelica S. Gallegos (Santa Ana Pueblo | Jicarilla Apache Nation), Freeland Livingston (Diné | Navajo), Selina Martinez (Pascua Yaqui Tribe and Xicana), Bobby Joe Smith III (Black and Indigenous | Hunkpapa and O'ohenumpa Lakota), and Zoë Toledo (Diné Asdzáán, Navajo Nation). Drawing upon their expansive diversity, the designers have created a cohesive and powerful installation that challenges the dominant narratives surrounding the land.The exhibition is a testament to the designers' deep connection to their respective communities and homelands. Each element of the installation reflects the cultural specificity of the designers' heritages, from the adobe bench crafted with soil from Phoenix to the stencils inspired by the Lakota writing system. The designers have also incorporated plants harvested from their ancestral lands, as well as local flora, with the guidance of Tongva steward Bob Ramirez.

Reclaiming the Narrative: Challenging Settler Colonialism

The exhibition's location holds significant historical significance, as Wilshire Boulevard was once known as "Calle de los Indios," a major Tongva route connecting various communities. The narrative of the La Brea Tar Pits as a center for scientific exploration has long perpetuated the erasure of Native peoples from the spatial narrative of Los Angeles.By reclaiming this space and weaving together the diverse cultural threads of the designers, "We Carry the Land" poses a powerful challenge to the dominant settler colonial narratives that have long shaped the built environment. The exhibition's temporary nature serves as a reminder that Indigenous presence and connection to the land are not relics of the past, but living, breathing realities that continue to shape the present and future.

Collaborative Practices, Collective Visions

The exhibition is the result of a collaborative process that brought together the six designers, each contributing their unique skills and knowledge to the project. From the concept sketches to the fabrication of the installation components, the designers worked together to create a cohesive and immersive experience.The collaborative nature of the project extends beyond the designers themselves, as they also engaged with local communities and Tongva stewards to ensure that their work was grounded in respect and reciprocity. The programming accompanying the exhibition, including workshops and conversations, further emphasized the importance of building relationships and sharing knowledge across Indigenous diasporas.

Designing for the Future: Indigenous Futurities

At the heart of "We Carry the Land" is a deep exploration of what it means to contribute to the built environment as an Indigenous person working on non-ancestral lands. The designers grapple with the complexities of being "Native and diasporic," holding seemingly paradoxical positions simultaneously.Through their work, the designers propose new modes of making place, drawing upon their cultural knowledge and design practices to envision Indigenous futures. The installation itself, with its interplay of natural and man-made elements, serves as a physical manifestation of this vision, bridging earth and sky in the carveout of an urban courtyard.The designers' commitment to centering Indigenous ways of knowing and being extends beyond the temporary installation, as they emphasize the lasting connections and relationships forged through the project. As Bobby Joe Smith III notes, "the connections that were formed in this space will carry on long after the last curtain is taken down.""We Carry the Land" is a powerful testament to the resilience, creativity, and deep connection to the land that these six designers bring to the table. By reclaiming the narrative and reimagining the built environment, they offer a glimpse into a future where Indigenous presence and stewardship are not just recognized, but celebrated and woven into the very fabric of our communities.