SEB becomes first Chicago remote clearer

SEB Futures has become the first firm to receive approval to serve as a remote clearing member of Chicago Mercantile Exchange and Chicago Board of Trade. The move marks a step in SEB's strategy to create a global central clearing operation with direct connection to all major derivatives exchanges from its derivatives centre in London.

Global head of SEB Futures Ulla Nilsson said the "ground breaking structure" would allow European clients active on the US exchanges to clear directly with a member in their own time zone for the first time. "Through our membership we can now also offer our clients more effective handling of their transactions, while at the same time improve our risk...