CME clears FX cash-settled forwards for first time
Service debuts in January with two EUR/USD trades
CME Group has carried out its first clearing of foreign exchange cash-settled forwards, completing trades for Citi and global asset-management firm Eaton Vance Management.
The exchange marked its debut in the space with two EUR/USD trades on January 15.
The new service will allow CME’s clients to use their capital more efficiently when trading G10 foreign exchange, said Sean Tully, global head of financial and over-the-counter products, in a company statement.
He highlighted the arrival of
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