(Bloomberg) -- The Chicago Mercantile Exchange delayed by at least several weeks plans for the first exchange- traded credit derivatives in the U.S., after regulators asked for more time to review issues with the tradable contracts.
The Merc, which was set to become the first U.S. exchange to break into the fastest-growing derivatives market on May 6, now will wait until at least early June, said Pamela Plehn, a spokeswoman for the exchange. Its so-called credit index event futures are modeled after credit-default swaps, the privately negotiated contracts used by hedge funds and others to speculate on the ability of companies to repay their debt.
Read more at Bloomberg Bonds News
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