IRS constant maturity futures open to US firms
18 November 2015 Frankfurt
Image: Shutterstock
The Commodity Futures Trading Commission (CFTC) has approved the Global Markets Exchange Group’s (GMEX Exchange) request to offer its products to US-based firms.
Interest rate swap constant maturity futures (IRS CMF) will now be available to US firms with immediate effect directly though the GMEX Exchange.
Trade confirmation and clearing of the GMEX IRS CMF takes place at Eurex, the derivatives marketplace of Deutsche Börse.
Transactions will be processed via the Eurex Trade Entry Service, which has been made available to US-based exchange participants.
GMEX Exchange has signed a number of firms, including Bank of America Merrill Lynch, Societe Generale and R.J. O’Brien, to trade the contract.
Hirander Misra, CEO and co-founder of GMEX Exchange, commented: “This is an important part of our growth strategy as it enables a wider range of buy and sell-side participants to gain access to our innovative products to facilitate effective hedging of their interest rate exposure.”
Interest rate swap constant maturity futures (IRS CMF) will now be available to US firms with immediate effect directly though the GMEX Exchange.
Trade confirmation and clearing of the GMEX IRS CMF takes place at Eurex, the derivatives marketplace of Deutsche Börse.
Transactions will be processed via the Eurex Trade Entry Service, which has been made available to US-based exchange participants.
GMEX Exchange has signed a number of firms, including Bank of America Merrill Lynch, Societe Generale and R.J. O’Brien, to trade the contract.
Hirander Misra, CEO and co-founder of GMEX Exchange, commented: “This is an important part of our growth strategy as it enables a wider range of buy and sell-side participants to gain access to our innovative products to facilitate effective hedging of their interest rate exposure.”
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