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CME Group seeks UK regulator approval to open derivatives exchange in London

LONDON | Ultimately, the US platform’s move props up the British capital’s Square Mile as a global European financial hub: CME Group, a leading derivatives marketplace, announced Monday it is in the process of applying to the United Kingdom’s Financial Services Authority to create a London-based derivatives exchange. CME’s executive chairman Terry Duffy explained that already 20 percent of the company’s business originates from clients in the European Union region. Setting an exchange…

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Back to gold, for clearing purposes

LONDON | This tells investors something about the scarcity of cash and quality assets to support compensation activity outside the regulated stock markets: from Friday CME Clearing Europe, the London-based clearing house owned by CME Group, has extended the range of eligible collateral types to include gold bullion. It is supposed to make it easier for holders of financial derivative products to offload their portfolios, and so prospective buyers would be more willing to…

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Weekend link fest

A curated selection of links we hope can enlighten us all; some come from our corner, some do from other corners of the net. And as always, our comment widgets are anxious to get your suggestions. Oh no, one more bubble!!! The problem with the euro: it isn’t sexy We need oil speculators, actually Derivatives are dangerous, how many times do we have to say this? China has workforce difficulties, too…