CME's move lifts London
London received a major boost to its status as a global financial centre yesterday as the world's largest futures exchange, CME, revealed it has applied to run a new European derivatives market there.
That will pitch the new market against the existing big players in the European derivatives market, London-based Liffe, which is owned by NYSE Euronext, and Eurex, the Frankfurt-based exchange owned by Deutsche Börse.
IntercontinentalExchange and Nasdaq OMX also run their European derivatives markets in London.
CME controls 98 per cent of the US futures market.
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