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CME buys Swapstream

The Chicago Mercantile Exchange has paid $15 million for the London-based swaps trading platform Swapstream.

CME said the takeover would "bring greater operational and processing efficiencies to the global interest rate swap market". Swapstream will remain in London and will operate as a subsidiary of CME.

CME paid $6 million for all Swapstream's stock and another $9 million in debt repayments.

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