Farm Progress is part of the Informa Markets Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

CME Says Clearing Function Protected

Bankruptcy does not affect Lehman Brothers, Inc.

CME Group Inc. said today Lehman Brothers Inc., a business of Lehman Brothers Holdings Inc. and CME's clearing member, continues to meet all of its obligations and continues to operate as normal.

CME noted that Lehman Brothers Holdings declared bankruptcy late Sunday, but Lehman Brothers Inc. operates as a separate company with its own accounts, assets and customers that are protected through a comprehensive federal regulatory regime and other financial safeguards and risk management protections. CME said all customers' funds are required to be segregated from Lehman Brothers Holdings, held in specially identified accounts and are not subject to any creditors' claims against the firm.

CME is the world's largest and most diverse derivatives exchange and operates the Chicago Mercantile Exchange, the Chicago Board of Trade and the New York Mercantile Exchange.

Source: Feedstuffs

Hide comments
account-default-image

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish