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CME Seeks Euro Swap Business Expansion
CME Group is seeking to expand into Europe’s swap clearing business by early 2012.
CME Group is seeking to expand into Europe’s swap clearing business by early 2012, Reuters reports. CME Clearing Europe opened for business on May 6, handling oil futures.
The firm cleared its first European oil trade between brokers, Newedge and Citigroup. Apart from OTC interest rate swaps (IRS), the U.S. exchange also aims to unveil other OTC financial products and additional products in agriculture, energy and metals after getting regulatory approvals.
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