CME has ‘no near-term plans’ for OTC FX options, LCH prepares launch in 2016
CME Group has ruled itself out of offering
over-the-counter foreign exchange options clearing for the
foreseeable future, granting a competitive advantage to rival
LCH.Clearnet as the London-based central counterparty (CCP)
prepares to clear the first physically settled FX products next
"As a major player in the OTC interest
rate swaps clearing space, we are in regular dialogue with our
clients to understand their needs. Currently, we are seeing low
appetite for OTC FX options clearing and have no near-term
plans to launch this product," said Will Patrick, executive
director for FX products at CME Group.
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