CMXchange and Opt4Derivatives partner for OTC metals trading
CMXflexclear uses Opt4 trading technology to allow exchange members to trade commodity derivatives transactions across a secure internet platform, either privately or anonymously. Upon completion, these trades will be cleared, processed and guaranteed by the Board of Trade Clearing Corporation, the only independent derivatives clearing house that maintains a Standard & Poor's AAA rating.
According to Tony Brown, chairman and chief executive of CMXchange, there will be major commercial accounts participating in CMXflexclear for the April block trading and the summer online launch. CMXchange's existing physical metals customers, who include automotive manufacturers, as well as other physical metals fabricators, suppliers and traders in the global metals industry, are expected to use CMXflexclear.
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