CME Group Acquires Elysian Systems In Derivatives Buildout
December 09 2010 - 10:06AM
Dow Jones News
Futures exchange operator CME Group Inc. (CME) on Thursday
struck a deal to buy Elysian Systems Ltd., a London company that
provides trading systems for over-the-counter derivatives.
Chicago-based CME will incorporate Elysian's technology into its
ClearPort platform, which provides clearinghouse services for
off-exchange derivatives transactions and which has come under
scrutiny from U.S. regulators that are implementing new regulations
for over-the-counter trade.
"This is really intended to provide more flexibility for us in
our energy business in terms of supporting the aggregation of
quotes among interdealer brokers," said CME Chief Executive Craig
Donohue in a presentation to investors Thursday.
Financial terms of the deal were not disclosed. CME's move to
buy Elysian comes during efforts by regulators to shift more
over-the-counter derivatives activity onto more transparent trading
platforms and clearinghouses to make the market less risky and more
observable following the 2008 financial crisis.
-By Jacob Bunge, Dow Jones Newswires; 312 750 4117;
Jacob.bunge@dowjones.com
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