CME Scoops Up Swapstream for $15M
DERIVATIVES TRADING TECHNOLOGIES
CHICAGO—The Chicago Mercantile Exchange (CME) last week put down $15 million to acquire U.K.-based Swapstream, an electronic trading platform for medium- and long-term interest rate swaps.
The intent is to expand CME's presence in the over-the-counter (OTC) interest rate derivatives market, according to exchange officials. Pending approval by the U.K.'s Financial Services Authority (FSA), Swapstream will become a wholly owned CME subsidiary, but remain headquartered in London.
CME will buy 100
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