CME allowed to clear OTC ethanol contracts
The Commodity Futures Trading Commission (CFTC) issued an order on October 9th permitting Chicago Mercantile (CME) to clear over-the-counter (OTC) ethanol contracts.
The order was issued to the Chicago Board of Trade (CBOT) to permit CME and Futures Commission Merchants (FCMs) to “commingle customer funds used to margin, secure, or guarantee specified OTC cleared-only contracts in denatured fuel ethanol with other funds held in a segregated account,” says the CFTC.
The CME and FCM will be required to provide the CFTC with information about the risk management procedures applied to these transactions.
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