Chicago Merc To Introduce Spot Look-Alike Product
EXCHANGES
As expected, the Chicago Mercantile Exchange's currency focus group says it plans to create a spot FX look-alike product--the so-called rolling spot contract for futures and options on foreign currencies. With the new contract--expected to receive regulatory clearance this summer--the exchange is setting its sights on the market for spot foreign exchange.
The new product has been approved by the CME's board of governors and now awaits final Commodity Futures Trading Commission (CFTC) regulatory
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