Still not much volume, but it appears the spreads have gotten a bit better. Micro EuroFX is now more like 1 to 2 ticks (used to be 3 to 4). The others are still worse. I think CME should start to quote the whole FX-complex in half-ticks. Would make them more competitive with spot.
Whats wrong with (potentially) smaller spreads? Especially when the underlying spot mkt quotes in tenth pips. Even EBS makes a move to half pip now. I can see liquidity providing strategies suffer a bit, but price takers should be better off.
Trading Forex through CME globex I think has given the forex traders a great chance to get out of the bucket shops and boiler rooms, finally you can see a real price for your currency that will not change or a huge spread during news or someone hunting your stoploss, When I changed to it also started trading mini dow which I found very good for my trading style and the session in NY lets me get a good sleep, also found that "real forex" through cme globex is not as huge as those market makers wants you to think it is a 3 billion participants, etc. it is not like that, their liquidity is normal just like any other market.
Since this post, spot forex rules the friggin markets. 50:1. Only three "if only" left: 1) The spread on most symbols (retail) 2) The volume on most symbols (retail) 3) Direct Access without needing have a huge amount of money. As ECNs catch up to the big banks, 1 & 2 will become more and more of a reality. 3 is the only advantage currency futures have over spot, imo.
Todays date is december 21, 2018 The CME is talking about "whispering" about a micro emini contract early next year!