CME Group confirms exchange plans

The exchange operator plans to launch its US FX futures and options portfolio in Europe, before developing new European-focused products

CME Group, the world's largest exchange by market capitalisation, Monday said it's planning to launch a London-based derivatives exchange, in a move that will see it compete with rivals run by NYSE Euronext and Deutsche Börse.

The exchange is applying to the UK Financial Services Authority for a recognised investment exchange license and will initially begin trading foreign exchange futures products, the company said.

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