LOOSE CHANGE

LOOSE CHANGE

The race to trade cross rate futures and options is heating up. The Commodity Futures Trading Commission has finally calendared the Chicago Mercantile Exchange's 12 cross rate products for consideration. A spokesman at the CFTC says that the 12 contracts are scheduled to be reviewed March 25. Although sources at the CME and the CFTC expect that all 12 will win approval, the CME has yet to slate an official launch date or decide which of the 12 it will start trading initially. Meanwhile, the

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