CME to Allow Brokers to Trade Futures, Swaps on One Screen
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CME Group Inc., the world’s largest futures exchange, will allow traders who arrange transactions between banks to buy and sell futures and swaps through one electronic screen.
CME Direct will allow so-called inter-dealer brokers to use one system for trading futures and swaps based on oil, natural gas, gasoline and heating oil, rather than the two systems now in place, the Chicago-based company said in a statement today. CME Group’s Globex electronic trading system is now used for futures while its Clearport system accepts swaps for clearing.