CME, PHLX Race To Propose Short Dated Options PHLX Also Goes Long, Cross Rates Battle Looms

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The Chicago Mercantile Exchange (CME) and the Philadelphia Stock Exchange (PHLX) are both preparing to submit proposals to trade short dated currency options. Officials at both exchanges confirm that they are pursuing the idea and hope to submit their proposals to U.S. regulatory authorities soon.

CME officials expect that its proposal could receive final board approval by the end of this month and will be submitted to the Commodity Futures Trading Commission (CFTC) immediately thereafter, w