LOOSE CHANGE
LOOSE CHANGE
The Chicago Mercantile Exchange (CME) will launch its new "turn rate" futures on May 19. "Turn" refers to the gap between the last business day of one calendar year and the first business day of the next year, which can last two to four days. The new products have been developed to satisfy demand for niche hedging tools that allow banks and other institutions to manage the interest rate pressures that can affect year-end balance sheets. The new products will trade electronically on the Globex
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