Although the announcement that the CME is to launch a service to clear over-the-counter foreign exchange products was no surprise, the way the exchange made it was. Once, the launch of such an initiative would almost certainly have been accompanied by a loud fanfare and the wheeling out of the great and the good by the exchange. But it would seem that the CME has learnt some important lessons over the past few years; so rather than proclaiming the move with a big bang, it did so more with a bit of a whimper.
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