3
September
CME to run OTC London gold forward clearing service
3 September 2009 Reuters
CME Group Inc said it will offer clearing services for over-the-counter (OTC) London gold forwards, as the largest U.S. commodities exchange aimed at expanding its gold trading operation.
The clearing services will start on Aug. 23 for trade date of Aug. 24, Chicago-based CME Group said in a statement dated Tuesday.
CME said that the new service was a direct response to customers' need to manage counterparty credit exposure.
