CME client clearing hits two more currencies
CME Group has added momentum to its new over-the-counter foreign exchange clearing service after clearing non-deliverable forward (NDF) client trades denominated in Chinese renminbi and the Philippine peso over the past month. The trades follow the clearing of a Brazilian real-denominated NDF on April 27, which marked the operational start of the new venture, almost a year after the exchange first announced it was ready to clear NDFs in May 2011.
"We have now cleared NDF transactions in three
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