CME Group is looking into developing a futures exchange in London, a move that would complement the firm's clearing business in the UK.
CME is one of a handful of global exchanges, including NYSE Euronext, that have submitted initial bids for the London Metal Exchange (LME), with IntercontinentalExchange (ICE) also believed to have bid.
It underscores how London is emerging as the key battleground for derivatives trading and clearing as new regulations, such as the US Dodd-Frank Act and similar European legislation, force over-the-counter derivatives to be processed through clearing houses.
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