Eurex Strikes Deal with GMEX over Swap Futures
German firm licenses Euro-denominated constant maturity future.
Under the terms of the agreement, the product will clear on Eurex Clear. Trades in the product will be arranged through GMEX's platform, and executed at Eurex. GMEX has already been granted approval for the arrangement from the UK Financial Conduct Authority, and Eurex is awaiting its own approvals. The platform is ready for end-to-end testing during the waiting period.
"We continue to make very good progress with our launch and this new licensing arrangement with Eurex provides firms with a well-established mechanism to trade and clear our CMF contracts. We are getting very strong support from the trading community, particularly the buy side," says Hirander Misra, CEO of GMEX Group.
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