Tags: CME Group, London, technological prowess, why ever isn't the FCA eager to approve this?
In less than three short months, London futures traders will have direct, local access to the CME Group’s vaunted technology platform.
CME Group aims to launch its new European futures market on September 9 and has started testing the platform’s trading systems with customers, according to the platform’s chief executive….
The planned launch is three months behind CME’s original schedule as it awaits approval from the Financial Conduct Authority, the new U.K. exchange regulator….
CME Europe’s initial launch will see it offer 30 contracts including futures tied to the euro, sterling, U.S. dollar, yen, Swiss Franc, Canadian dollar and other currencies. Mr. Ray said currency contract terms will differ from those already listed on CME’s U.S. market. New contracts may be denominated in European or Asian currencies, or come in different sizes, said Mr. Ray.
CME Plans September Launch In London [WSJ MoneyBeat blog]