The CME Group is already running the Chicago Board Of Trade (CBOT), the Chicago Mercantile Exchange (CME) and the New York Mercantile Exchange after acquiring its parent company NYMEX back in 2008. One of the largest options and futures exchanges in the world has announced back in the beginning of March that it obtained regulatory approval from the Financial Conduct Authority (FCA) for its European exchange. CME Europe will start operating this Sunday, April 27th from London.
One of the leading low-latency and software solutions providers for institutional clients, Realtime Systems Group (RTS), has announced in a press release that it will deploy its network to provide access for its clients to the newest European derivatives exchange handled by the CME Group. RTS boasts one of the most complete multi-asset class solutions aggregating exchanges and execution venues worldwide.
The Managing Director of the company’s European arm said that “RTS will provide connectivity right away to CME’s new derivatives exchange in Europe, offering immediate access to not only commodity contracts such as biodiesel futures, but a full suite of foreign exchange (FX) products. Our clients can leverage our platforms and UK data centre to trade these exchange-listed contracts in concert with non-deliverable forwards and cash FX offerings in our network.”
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RTS’ CEO Steffen Gemuenden has added that: “RTS believes there is good demand among our global client base for a new derivatives exchange, regulated and cleared in Europe, that offers compelling products, as well as interesting opportunities for spreading and arbitrage.”
Speaking to Forex Magnates reporters, CME Europe’s Executive Director and Head of Strategic Sales Felix Carabello, has confirmed that the exchange will be launching its FX business on Sunday as the final regulatory approval has been received.
With multiyear low volatility settling in major forex pairs, the CME Group’s FX business is not likely to pick up markedly right away. The launch of CME Europe will be crucial to the ambitions of the company to come at the center of the stage of derivatives marketplaces across Europe.