CME expects to get approval for its credit derivatives clearing platform from the Securities and Exchange Commission soon, Chicagotribune.com reports.

The SEC, the Federal Reserve Board and the Commodity Futures Trading Commission had agreed, in November, to share oversight of credit derivatives.

Currently, the trio has approved only one credit default swap clearing platform, a partnership between NYSE Euronext and LCH.Clearnet. The SEC signed off on that effort last week after NYSE Euronext launched credit derivatives clearing on its BClear platform.

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