CME Group To Close CME Europe And CME Clearing Europe

Derivatives marketplace CME Group Inc. said Wednesday that it will close its London-based derivatives exchange, CME Europe, and its clearing house, CME Clearing Europe, by the end of 2017. While Europe had average daily volumes of more than 2.6 million contracts from European clients in 2016, CME customers prefer to access the U.S. infrastructure, said William Knottenbelt, CME Group's international senior managing director, in a statement. The organization will maintain operations in London once the two groups shutter. CME Group shares are inactive in premarket trading and up 30% for the past year. The S&P 500 index is up 14.2% for the last 12 months.