CEO says CME is "absolutely not" dependent on OTC clearing venture

10/2/2009 | Reuters

Craig Donohue, CEO of CME Group, said the derivatives-exchange operator is not relying on its venture to clear over-the-counter derivatives, which has been in the works for nearly a year. The venture is a "very compelling and significant growth opportunity for us, but I think it's additive to the growth that I think we can achieve through these other things," Donohue said. CME Managing Director Kim Taylor said the company expects the U.K. Financial Services Authority to approve its European clearinghouse for credit default swaps by the end of the year.

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