BofA urges horizontal CCP fix after CME outage, others demur
Analysts say clearing meltdown bolsters case for futures-for-futures exchange with FMX
A 10-hour outage at CME Globex that lost banks business late last month helps build the case for fungible “futures-for-futures” transactions that reduce reliance on a single listed derivatives provider, analysts say.
The episode could also provide “marketing fodder” for the CME’s nascent competitor FMX, they add.
Bank of America analysts say the outage provides tangible evidence of the US Treasury
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