Global derivatives marketplace CME Group, which operates the Chicago Mercantile Exchange, has opened a new office in Sydney as it looks to build out its presence in the Asia-Pacific region.
CME Group, the US company behind the Chicago Mercantile Exchange, has opened an office in Sydney to service its clients in the Asia-Pacific region.
The US firm saw average daily volume of 637,000 contracts throughout the second quarter of 2016-17 in the Asia-Pacific regionn, up 5 per cent on the prior corresponding period.
CME's Australian clients have had growing interest in interest rate derivatives (up 24 per cent), foreign exchange (up 22 per cent) and metals contracts (up 14 per cent).
The firm's chief executive, Terry Duffy, said, "2017 is an exciting time for CME Group in Asia-Pacific, as we celebrate 30 years since we set up our first office in the Asia-Pacific region in Tokyo back in 1987.
"Australia is central to CME Group’s growth plans, being in the top five contributors of our revenues in the region, and we are excited to be able to bring our expertise and products here to help our clients with their risk management needs, especially in the areas of [over-the-counter] clearing and trade repository services."
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