Craig Donohue, chief executive of the CME Group, has rebutted recent criticism that the exchange was jeopardising its stability by preparing to clear credit default swaps.
Speaking at the Futures Industry Association Expo in Chicago, Donohue said allegations that it would be risky to use a single guarantee fund to protect counterparties to all kinds of contract were “foolish”.
In late October, Thomas Peterffy, founder and CEO of Interactive Brokers, told Bloomberg News that CME Group’s plan to clear...