CME Group Inc. on Friday postponed the launch of London-based CME Europe Ltd to Sept. 29, for a trade date of Sept. 30, according to a memo to customers.
The biggest U.S. futures market operator had planned to start trading in London Sept. 9.
“We are currently working very closely with regulators in order to achieve both recognition and a successful CME Europe launch,” CME said in the notice.
CME told customers that it will provide “a further update to the timetable of the launch in the coming weeks and will keep you informed of any announcements regarding the regulatory recognition process.”
CME spokesman Allan Schoenberg declined to comment beyond the notice.
CME, which owns the Chicago Mercantile Exchange, the Chicago Board of Trade and the New York Mercantile Exchange, has applied to the UK’s Financial Conduct Authority for approval to open the London-based market. It is set to offer 30 foreign-exchange futures products, according to CME’s website.
Chris Hamilton, a spokesman for the Financial Conduct Authority, declined to comment.
CME has stakes in several foreign exchanges, including in Brazil and Dubai, but London would be its first solo run overseas.
CME’s chief executive officer, Malaysia-born Phupinder Gill, took the reins of the Chicago-based company last year, vowing an international perspective for the 165-year-old U.S. futures powerhouse.