CME Group to clear OTC London gold forwards contracts
CHICAGO - The Chicago Mercantile Exchange (CME) Group moved a step closer to opening up clearing services to the forex market with its announcement on July 14 that it will be ready to clear over-the-counter London gold forwards from August 23.
The post-trade service enables trades to be privately negotiated and executed off-exchange and then submitted through CME ClearPort for clearing. This allows counterparties to continue to trade as usual and transfer credit risk to CME Group.
The service
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