LONDON, and CHICAGO, April 12,
2017 /PRNewswire/ -- CME Group today announced
that it intends to close its London-based derivatives exchange and clearing
house, CME Europe and CME Clearing Europe, by year-end 2017.
During the coming months, CME Group will work closely with all
market participants and regulators to ensure a smooth transition
and an orderly wind down of business operations, including the
provision of CME Group market alternatives for actively traded
products on CME Europe.
"While Europe continues to be a critically important and
expanding market for CME Group, with average volumes of more than
2.6 million contracts per day from European clients during 2016,
our customers have shown that they prefer to access our global
products, deep liquidity and greater capital efficiencies through
our U.S. infrastructure," said William
Knottenbelt, CME Group Senior Managing Director,
International. "Though we have made the business decision to
close these London-based entities,
we will continue to maintain a significant operation in
London to execute our global
growth strategy, including serving our European client base,
developing innovative products and services, and helping customers
effectively manage their risk across every major asset class."
As the world's leading and most diverse derivatives marketplace,
CME Group (www.cmegroup.com) is where the world comes to manage
risk. Through its exchanges, CME Group offers the widest
range of global benchmark products across all major asset classes,
including futures and options based on interest rates, equity
indexes, foreign exchange,energy, agricultural products and
metals. CME Group provides electronic trading globally on its
CME Globex platform. The company also offers clearing
and settlement services across asset classes for exchange-traded
and over-the-counter derivatives through its clearinghouses CME
Clearing and CME Clearing Europe. CME Group's products and
services ensure that businesses around the world can effectively
manage risk and achieve growth.
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