LOOSE CHANGE

LOOSE CHANGE

The Chicago Mercantile Exchange (CME) has received Commodity Futures Trading Commission approval to trade its new currency forward contracts (FX Week, April 11). The exchange has also announced a September 12 launch date. Initially, the futures contracts will be in dollar/Deutsche mark, in lots of $250,000, and are envisioned to be traded primarily as currency swaps against the 'rolling spot' contracts. The CME will launch similar contracts in its other currencies, depending on the success of

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