CME - CME Group to launch European overnight index futures in Q4

• CME Group ( NASDAQ: CME ) will launch European Overnight Index futures based on RepoFunds Rate ("RFR") benchmarks and the Euro Short-Term Rate in Q4, pending regulatory review, the company said Friday.
• "Our new European Overnight Index futures will support customers with liquid and capital efficient tools for hedging overnight money market and repo rates in European markets," said Sean Tully, CME Group ( CME ) global head of Rates and OTC Products.
• RFR futures will be cash-settled contracts based on RFR benchmarks, a measure of overnight funding costs that's derived from centrally cleared repo trades executed on BrokerTec, an CME unit that provides electronic trading platforms in fixed income markets, and Euronext's MTS, a European electronic fixed income trading platform.
• On Thursday, CME ( CME ) announced plans to launch euro-denominated bitcoin, ether futures later this month.

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