UPDATE 1-CME Clearing Europe gets FSA approval

CHICAGO, Dec 16 (BestGrowthStock) – CME Group Inc’s (CME.O: )
European clearinghouse won U.K. regulatory approval on
Thursday, paving the way for the biggest U.S. futures exchange
operator to expand globally.

CME plans to launch CME Clearing Europe in early 2011, the
Chicago-based company said in a statement. The clearinghouse
will start by clearing over-the-counter commodity products, to
be followed “soon after” by over-the-counter financial
products, it said.

Regulators worldwide are forcing more of the $600 trillion
off-exchange market for derivatives into clearinghouses after
the financial crisis of 2008 highlighted the risks of allowing
contracts to be traded directly between market participants.

CME and other clearinghouse operators have jumped at the
opportunity to take advantage of the momentum, offering their
services for an expanding array of products.

CME Clearing Europe has also applied for U.S. regulatory
approval.
(Reporting by Ann Saphir; Editing by Theodore d’Afflisio)

UPDATE 1-CME Clearing Europe gets FSA approval