CME Group has cleared its first foreign exchange (FX) cash-settled forwards with Citigroup and Eaton Vance Management.

Several major stock exchanges have decided to close trading on US markets on 5 December following the passing of former President George H. W. Bush.

CME Group, the world’s leading and most diverse derivatives marketplace, announced five market participants have cleared trades worth more than $200 million in notional value of over-the-counter (OTC) Secured Overnight Financing Rate (SOFR) interest rate swaps since launching the service on Oct. 1. This builds on the growing liquidity of SOFR futures, which during August and September averaged more than 5,400 contracts per day and traded the equivalent of nearly $1 trillion in notional value since their launch in May 2018.