CME, CBOT reach definitive agreement on clearing services.

0 Comments | M2 Presswire, April, 2003

M2 PRESSWIRE-17 April 2003-CME: CME, CBOT reach definitive agreement on clearing services(C)1994-2003 M2 COMMUNICATIONS LTD RDATE:04162003 Chicago -- Chicago Mercantile Exchange Inc. (CME) and the Chicago Board of Trade (CBOT) announced that they signed a definitive agreement for CME to provide clearing and related services for all CBOT products.

Under the CME/CBOT Common Clearing Link, clearing services are expected to begin, pending regulatory approval, on Jan. 2, 2004 in this historic transaction between the two largest U.S. futures exchanges. Officials of the two exchanges said that the arrangement will provide clearing firms and customers with operational, performance bond (margin) and capital efficiencies, as well as a combined risk capital pool and...