Global exchanges in fight for Asia clearing market share
No clear Australia strategy for CME while Eurex is kept waiting for a licence
While many global banks have scaled down their Asia businesses in the past three years, their exchange and clearing peers have moved in the other direction. The latest stage in this process came with the November 3 announcement by Ice that its Singapore clearing house and futures exchange would start operating on March 17 next year.
A few weeks earlier the Australian government granted US firm CME a clearing and settlement licence – making it the third such institution after LCH.Clearnet, and
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