The Chicago Mercantile Exchange (CME) has delayed the launch of its planned credit event futures, after US regulators demanded more time to examine the proposal.
CME announced in October 2006 it would launch the product, which pays out a fixed amount after a credit event, in the first quarter of this year. But the Commodity Futures Trading Commission (CFTC) has now asked twice for more time to review the product.
CME said two days ago it would alter the product's payout terms: it will now pay out
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