US exchanges delay credit futures launch

Credit futures contracts from US exchanges the CME and the CBOE have been delayed while they await regulatory approval.

The Chicago Mercantile Exchange's futures product based on single-name credit default swaps had been approved and was set for launch in early May. But the exchange has delayed the launch while it awaits approval from the Commodity Futures Trading Commission for a sister product based on the CME North American High-Volatility Index Series 2.

The Chicago Board Options Exchange,

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