Forex is a big topic and while the market expands into an array of OTC products, many exchanges are offering products on their exchanges that offer traders more security.

CME Group, which is a regulated marketplace for foreign exchange trading, announced plans to offer electronic trading for weekly forex options on futures with American-style expiration. As of Sept. 10, the weekly options on the following currencies will be available virtually 24 hours a day on the CME Globex electronic trading platform: the Euro, the Japanese yen, the British pound, the Swiss franc, the Canadian dollar and the Australian dollar.

This move came on Sept. 6, just about one week after the Philadelphia Board of Trade (PBOT) launched four new World Currency Futures (WCF) covering the Australian dollar, the Canadian dollar, the Japanese yen and the Swiss franc. Previously the PBOT had launched WCF on the pound and the euro. Both the Philadelphia Stock Exchange (PHLX) and the International Securities Exchange (ISE) launched world currency options earlier this year.

And at the end of August the Tokyo Financial Exchange (TFX) announced it plans to invest about ¥8.5 billion ($73 million) in a currency trading system in the coming year, seeking to grab market share from online brokers.