CME plans to corner invoice spread trading, dealers claim
Dealers claim “high farce” after CME rule change prevents packages being traded at other venues
CME Group has sparked outrage among dealers by discussing plans to launch invoice spread trading on its swap execution facility (Sef). Critics claim this would allow it to corner the market, after a rule tweak by the exchange in March this year effectively made it impossible to execute the trades at other venues. Invoice spreads pair up interest rate swaps with CME-listed US Treasury futures in a
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