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CME, Tullett launch trading system


Chicago Mercantile Exchange (CME) and Tullett Liberty launched their joint venture for OTC interest rate derivatives last Wednesday. The electronic trading and clearing system stands as the latest attempt to create synergies between futures exchanges and OTC markets.

The joint venture, announced in March, has attracted more than 40 firms in North America and Europe. Through the deal, OTC derivatives dealers can hedge positions more...

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