CME brings futures to CLS
Using Citigroup’s third-party CLS solution, the CME has committed its first euro- and dollar-denominated contracts on CLS for an undisclosed member firm, for the June contract settlement cycle, said Tim Doar, director of financial management at the CME in Chicago. Other clearing firms can choose to use CLS settlement for their euro/dollar-denominated deliveries beginning with the September delivery. This will be expanded on a phased basis to add further CME FX products and currencies, he added.
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