The European arm of the Chicago Mercantile Exchange Group’s clearing operation racked up net losses of £13 million in 2014, after it continued to be hit by delays to the introduction of central clearing in Europe.

The loss, down slightly from £15.7 million in 2013, brings the clearing house's cumulative losses to £56.7 million since it began operations in 2011, according to the accounts submitted to Companies House on October 3.