CME kicks off client clearing ahead of competitors

kickoff

CME Group has kicked off its over-the-counter foreign exchange clearing service after clearing a non-deliverable forward (NDF) client trade in the Brazilian real on April 27. The trade took place almost a year after the exchange first announced it was ready to clear NDFs in May 2011, initially just for the Chilean peso. Further details of the April 27 trade have not been disclosed, but CME Group confirms the transaction was a client trade rather than an interbank one, taking it a step ahead o