“CME Group Inc. (CME), owner of the world’s biggest futures exchange, plans a derivatives market in London by the middle of 2013, setting up in competition with Eurex and Liffe, the largest venues.
The exchange will start with currency futures, CME said in a statement today. CME’s European exchange will be led by Robert Ray as chief executive officer. CME Globex will be the electronic trading system for the new London exchange and CME Clearing Europe will process the transactions. Chicago-based CME plans to file with the U.K. securities regulator in the coming weeks as the first step in the process.”
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