Agency Cross on CME Direct On June 9th the CME launched Agency Cross on CME Direct. Agency Cross, also known as non-block trading, allows brokers to trade ClearPort products directly into Globex in non-block sizes. Block trading restrictions have become a major area of contention for many IBs. Agency Cross functionality is a welcomed addition for many brokers and traders, besides being a necessary addition by the CME to keep up with ICE. Agency Cross was rolled out to little fanfare as many firms were not even aware of it’s introduction. This was more of a soft launch for the…