Delays for CME's credit event futures

The Chicago Mercantile Exchange (CME) has delayed the launch of its planned credit event futures after US regulators demanded more time to examine the proposal.

The CME announced in October 2006 that it would launch the contracts, which would pay a fixed amount after a credit event, in the first quarter of this year. But the Commodity Futures Trading Commission (CFTC) has twice asked for more time to review the product.

In January, the CME said it would alter the contract's payout terms - it

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