CME Group to Exit OTC Credit-Default-Swap Clearing Business
15 September 2017 - 11:10AM
Dow Jones News
By Maria Armental
CME Group Inc. (CME) plans to exit the over-the-counter
credit-default-swap clearing business next year, a move that would
free $650 million to clearing members, the exchange operator said
Thursday.
Chicago-based CME, the world's most valuable exchange group with
a market capitalization of nearly $45 billion, said it would shift
focus to interest-rate swaps and foreign exchange.
The exchange giant intends to start offering OTC
foreign-exchange options clearing by the end of the year and add
several currencies, including the Chinese yuan, to its
interest-rate swaps offerings.
Shares closed Thursday at $132.12, just shy of a 9-year set
during regular trading.
Write to Maria Armental at maria.armental@wsj.com
(END) Dow Jones Newswires
September 14, 2017 20:55 ET (00:55 GMT)
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