Chicago Mercantile Exchange (CME) announced a new OTC
clearing service for interest rate products on 15 March.
In an announcement made at Futures Industry Association's
annual conference in Boca Raton, Florida, the exchange said it
would launch CME Clearing 360 on 3 April. The service would
permit bilateral OTC interest rate transactions to be converted
into futures contracts beginning with "substitutions" using CME
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