CME looks to Australia ASX hookup to build Far East derivatives presence


Offering of OTC derivatives clearing in Asia Pacific on the radar for the CME Group

The Chicago Mercantile Exchange (NASDAQ:CME) is looking to partner up with the Australian Securities Exchange’s division ASX Clear in order to form a partnership that offers clearing services for OTC derivatives to Australian brokers, as the American company is looking to push its expansion plans through the Asia Pacific region. Sources were cited in an article by e-Financial News that claimed talks were at an early stage.

The General Manager for derivatives and over-the-counter markets at ASX Clear (Futures) has stated that Rohan Delilkhan said that the company has no basis to comment on and would talk to the press when the time comes. The CME Group (NASDAQ:CME) has declined to comment on the matter.

The article goes on to elaborate that as new regulations are kicking in, the Australian OTC derivatives market will be transferred to clearing houses and major players like CME Group (NASDAQ:CME) and LCH.Clearnet will be hoping to get a piece of the pie.

LCH.Clearnet which is majority owned by the London Stock Exchange Group (LON:LSE) has already been established as one of the major players that are providing clearing services on the Australian market, which is valued at $13 trillion according to data for 2012 reported by the Reserve Bank of Australia.

For the full article cited above visit e-Financial News’ website.

For more on the global Forex industry see the LeapRate-Dow Jones Forex Industry Report.

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CME looks to Australia ASX hookup to build Far East derivatives presence

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