CME Group secures $7 billion credit facility to protect against a clearing member default

CME Group Inc. CME, -1.79% disclosed Thursday that it agreed to an amendment that gives the commodity exchange company a $7 billion multi-currency credit facility. The company said the 364-day amended facility is intended to provide liquidity “in the event of a clearing member default,” a liquidity constraint or depositary default, or in the event of a delay in the payment systems utilized by CME. The stock fell 2.8% in afternoon trading. It has dropped 19.4% over the past three months, while the S&P 500 SPX, -0.92% has shed 11.6%.

Leave a Reply

Your email address will not be published. Required fields are marked *