CME Clearing Operation Gears Up For Foreign Denominated Contracts

Although the exchange still hasn't submitted a proposal to trade a foreign denominated contract to regulatory officials, the Chicago Mercantile Exchange (CME) is gearing up its clearing, margining and settlement system for their introduction, according to sources there. Though some market participants were skeptical that the CME could get a foreign denominated contract trading before year end (FX Week, August 9), that possibility now seems likely.

John McPartland, vice president, business