FSA grants CME right to provide clearing in UK

The UK’s Financial Services Authority (FSA) has granted the Chicago Mercantile Exchange (CME) the status of a recognised overseas clearing house (ROCH), enabling the exchange to provide global clearing services to market participants in the UK.

The ROCH status will take effect immediately and will enable CME to clear products that are not traded on centralized markets provided by CME in the United States.

For example, CME will now be able to clear over-the-counter products regulated by the FSA, such as currency forwards, that may be or will soon be offered by FXMarketSpace, CME's joint venture with Reuters.

CME also will have the ability to market its other over-the-counter clearing services in the UK, including its CME Clearing360™

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