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CME To Unveil London Clearing House
Chicago-based CME Group is set to offer clearing services to exchanges in Europe.
Chicago-basedCME Groupis set to offer clearing services to exchanges in Europe,金融时报》reports. The group is launching a new clearing house, calledCME Clearing Europe, in London.
The new clearing house will initially begin clearing in 153 over-the-counter (OTC) commodity contracts, such as WTI and Brent crude swaps, freight forwards and swaps on rapeseed oil. The launch will pit the CME againstIntercontinentalExchange, which provides clearing in similar Brent and WTI swaps onICE Clear Europe, also based in London.
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