The CME Group has announced to members that the launch of CME Europe, its new London based exchange is being delayed, citing “a technical issue around the delivery of physical currencies.” CME Europe was slated to go live for trading at the opening of trade this evening. The news marks the second delay for the exchange which had earlier postponed a September 9th launch date. In its current letter, the CME Group did not provide another prospective launch date, most likely suggesting that the exchange will open its doors immediately upon fixing its technical issues and receiving the ‘go ahead’ from the UK’s Financial Conduct Authority.
Upon launching, CME Europe will offer trading in 30 FX contracts. The new venue will be facing competition from Eurex, which announced last month that it will begin to offer trading in six FX pairs on October 7th.