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CME Adds Wells Fargo As Clearer

Wells Fargo Securities has joined CME Group, operator of the Chicago Mercantile Exchange, as a clearing member.

Wells Fargo Securities has joined CME Group, operator of the Chicago Mercantile Exchange, as a clearing member, Financial Times reports. Wells Fargo, which did not have an existing futures and options business, has developed its OTC derivatives broking business from scratch.

CME now has a total of 12 clearing members, including Royal Bank of Scotland that joined in November. It has cleared $980.5 million in notional value of over-the-counter interest rate swaps since the launch of the service in October 2010.

Click here for the story from Financial Times.

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