The European markets regulator has given CME Clearing Europe the go-ahead to clear the Chicago group's suite of swap futures, ahead of new rules that will make central clearing of interest-rate derivatives mandatory.

The CME has built a leading position in the swap futures market in the US, with deliverable contracts trading $580 million in average notional daily traded value. It launched a euro-denominated contract in April 2014, with tenors for the product offered over two, five and 10 years.