The CME Group, the futures exchange, on Wednesday sought to extend its foothold in Asia by entering talks with the Osaka Securities Exchange, Japans derivatives exchange, to develop new services.
Fresh from winning member approval for its $8.2 billion takeover of Nymex, the New York energy exchange, the agreement symbolises the CMEs desire to strengthen its ties in Asia as it seeks to enhance its global presence.
The CME currently trades both yen and dollar-based Nikkei futures contracts. Initially, the two exchanges will collaborate on the development of 24-hour trading of Nikkei 225 stock index futures contracts.
The full story is available at the Financial Times web-site.