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CME Seeks To Clear All FX Products

The Chicago Mercantile Exchange is planning to clear all FX products, including spot, forwards and swaps.

The Chicago Mercantile Exchange (CME) is planning to clear all FX products, including spot, forwards and swaps, FX Week reports. The exchange will mainly focus on all FX instruments that will be required to manage an over-the-counter FX option.

On May 16, CME planned to start its FX clearing roll out with the Chilean peso (CLP) and was ready to clear non-deliverable forwards in USD/CLP through its CME ClearPort platform. Trades carried out in standard USD/CLP interbank terms can be cleared through ClearPort, while interdealer broker ICAP will offer valuation.

Click here for the story from FX Week.

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