WASHINGTON (dpa-AFX) - CME Group Inc. (CME) plans to establish a European derivatives exchange and to submit its license application to the U.K.'s Financial Services Authority 'within days,' the Wall Street Journal reported on Sunday citing two people familiar with the matter.
The CME's move to create a U.K.-regulated exchange forms part of its aggressive plan to expand beyond its home market and comes as the world's biggest bourses review their global strategies.
The new multi-asset exchange is expected to launch in the second quarter of next year, the Journal reported.
CME Group operates the CME, CBOT, NYMEX and COMEX futures exchanges worldwide. The company was formerly known as Chicago Mercantile Exchange Holdings Inc. and changed its name to CME Group Inc. in July 2007. CME Group Inc. was founded in 1898 and is headquartered in Chicago, Illinois.
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