CME threatens to flee US as regulators challenge liquidity of US Treasury collateral


CME Group has threatened to move "a significant portion" of its clearing business offshore, after US regulators started challenging the liquidity of US Treasury collateral. Proposals from the Commodity Futures Trading Commission (CFTC) could force central counterparties (CCPs) to back US bonds with cash – but other jurisdictions are taking a softer line, CME claims, potentially putting it at a disadvantage to rivals overseas.

The CFTC proposals are an attempt to bring US clearing house

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