By Dean Seal

BGC said the Commodity Futures Trading Commission has given it the go-ahead to start operating its FMX Futures exchange for U.S. Treasury and Secured Overnight Financing Rate futures.

The financial services firm said Monday the Treasury and SOFR contracts are the most widely traded futures contracts in the world.secured

The approval will allow the FMX exchange to create competition across the Chicago Mercantile Exchange's U.S. interest rate complex, Chief Executive Howard Lutnick said.

Write to Dean Seal at dean.seal@wsj.com

(END) Dow Jones Newswires

January 22, 2024 17:39 ET (22:39 GMT)

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