CME’s new swap future uses Goldman Sachs patent
Licensing agreement could be worth up to 20% of revenues from patented contract, and is seen as an attempt by Goldman Sachs to hedge its bets as new rules threaten OTC market profits
CME Group's planned new swap futures product is based on a patent owned by and licensed from Goldman Sachs – a deal some market participants see as an attempt by the investment bank to hedge its bets, as over-the-counter products face a tougher regulatory regime.
Goldman Sachs is one of four dealer market-makers for the product, which was announced by CME on September 18. The others are Citi, Credit Suisse and Morgan Stanley. The exchange could be paying Goldman Sachs as much as 15–20% of the
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