CME ready to fight for market share in Europe, says Sammann
CME Group's European exchange, set to begin trading foreign exchange futures next year, will offer a competitive alternative to other exchanges, says the group's head of forex and rates
Chicago-based derivatives exchange CME Group last week began the process of expanding its presence in Europe with the announcement it is applying to the UK Financial Services Authority (FSA) to create a London-based derivatives exchange, which will start trading forex futures in mid-2013.
The venture will compete against a variety of established European exchanges, including NYSE Euronext's Liffe and Frankfurt-headquartered Eurex, but Derek Sammann, senior managing director of foreign exchange
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