(Reuters) – CME Group plans to file a bid to clean up U.S. Treasuries, a spokesman said, in a market worth $26 trillion.
Earlier on Tuesday, the Financial Times reported that CME Group (NASDAQ:) will apply to clear US Treasuries this year, becoming the first exchange-traded company to publicly announce its plans to enter the world’s largest bond market.
Chris Edmonds, president of the fixed income and data services division of rival InterContinental Exchange (NYSE:), told Reuters his company is also interested in providing clearing services to the Treasury, saying InterContinental Exchange “will find a way to serve the market.”
CME operates CME Clearing, which offers clearing and settlement services for exchange-traded contracts and over-the-counter derivatives transactions.
The exchange operator also offers global benchmark products across major asset classes, including futures and options.