by Jim Kharouf
Chicago Mercantile Exchange (CME) has planned to launch
credit derivatives in mid- to late-April, after it received
regulatory approval from Commodity Futures Trading Commission
(CFTC), and in doing so making it the first exchange traded
credit default swap futures in the US.
The CME's contracts would be binary in nature and be called
credit event futures. They would be modelled after
credit-default swaps, the fastest growing part of the
derivatives market. The notional value of the sector is about
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