CME plans June launch for exchange-traded credit derivatives
The Chicago Mercantile Exchange (CME) is to begin trading credit index event contracts by June.
The contracts, to be traded on the CME Globex electronic trading platform, will enable traders to bet on the creditworthiness of a number of defined corporate credit events. The CME North American investment-grade high-volatility index references 32 names, all rated triple-B minus or above, including Time Warner, The Gap and Viacom. The corporate names were selected according to their high volatility
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