CME and Citadel to roll out swaps platform

The Chicago Mercantile Exchange Group (CME) has received approval from the SEC to clear credit default swaps, but now faces the task of getting customers to sign up to its platform.

Electronic clearing platform CMDX - a joint venture between CME and hedge fund Citadel Investment for clearing CDS contracts - had already received approvals from the Federal Reserve Bank of New York and the Commodity Futures Trading Commission on December 23. In addition, CME signed a deal with financial information

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