CME ready to fight for market share in Europe, says Sammann

Derek Sammann at CME

Chicago-based derivatives exchange CME Group earlier this week began the process of expanding its presence in Europe with the announcement it is applying to the UK Financial Services Authority (FSA) to create a London-based derivatives exchange, which will start trading foreign exchange futures in mid-2013.

The venture now faces an uphill battle to build market share and take on European competitors, including Nyse Euronext's Liffe and German exchange Eurex, but Derek Sammann, senior managing

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