TOKYO, June 2, 2016 /PRNewswire/ -- CME Group, the
world's leading and most diverse derivatives marketplace, announced
that Chicago Mercantile Exchange Inc. (CME) has
been formally granted the status of Foreign Clearing Organisation
(FCO) by the Prime Minister of Japan on 1 June
2016.
With this FCO status, the clearing house division of
CME, CME Clearing, is now able to clear non-Yen interest
rate swaps on behalf of Japan-based financial
institutions.
"We are pleased to obtain this license to clear non-Yen interest
rate swaps, as we have seen significant demand for our services as
our clients look to benefit from capital efficiencies for their
interest rate swap portfolios," said Sunil
Cutinho, Senior Managing Director, and President of CME
Clearing. "We look forward to helping market participants access
clearing services across multiple asset classes and
jurisdictions."
"This is an important milestone for CME Group in Asia Pacific, as we continue to deliver on our
growth strategy," said Christopher
Fix, Managing Director, and Head of Asia Pacific, CME Group. "Tokyo is an important global international
financial centre, and we are pleased to be able to play a role here
in helping to integrate the global interest rate swap market into
Japan, and strengthening
Tokyo's position as an OTC
derivatives hub."
CME Group has been serving clients in Japan for close to 30 years. Its Tokyo office is the oldest in Asia, having been established in 1987.
In 2012, CME Group appointed Dr. Izumi Kazuhara as
Executive Director, Head of Japan,
to develop growth opportunities and customer relationships in
Japan.
As the world's leading and most diverse derivatives marketplace,
CME Group (www.cmegroup.com) is where the world comes to manage
risk. CME Group exchanges offer the widest range of global
benchmark products across all major asset classes, including
futures and options based on interest rates, equity indexes,
foreign exchange, energy, agricultural products and metals. Around
the world, CME Group brings buyers and sellers together through its
CME Globex® electronic trading platform and its exchanges based in
Chicago, New York and London. CME Group also operates one of the
world's leading central counterparty clearing providers through CME
Clearing and CME Clearing Europe, which offer clearing and
settlement services across asset classes for exchange-traded and
over-the-counter derivatives. CME Group's products and services
ensure that businesses around the world can effectively manage risk
and achieve growth.
CME Group is a trademark of CME Group Inc. The Globe Logo, CME,
Globex and Chicago Mercantile Exchange are trademarks of Chicago
Mercantile Exchange Inc. CBOT, the Chicago Board of Trade, KCBOT, KCBT and
Kansas City Board of Trade are
trademarks of the Board of Trade of the City of Chicago, Inc. NYMEX, New York
Mercantile Exchange and ClearPort are registered trademarks of New
York Mercantile Exchange, Inc. COMEX is a trademark of Commodity
Exchange, Inc All other trademarks are the property of their
respective owners. Further information about CME Group (NASDAQ:
CME) and its products can be found at www.cmegroup.com.
CME-G
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SOURCE CME Group