CME Clearing Europe currently offers clearing for more than 200 OTC commodity derivative products, including energy, agriculture, freight and precious metals. We have also extended our service to include the clearing of OTC financial derivatives.
We also provide clearing services to CME Europe, CME Group's newly launched London-based derivatives exchange. CME Europe today offers a range of FX futures and a suite of commodities contracts and will offer products across multiple asset classes over time. Our exchange-traded clearing services for CME Europe will expand in line with the range of products offered for trading.
Our integrated clearing model provides the operational flexibility of a multi-product solution. It is designed to ensure the safety and soundness of our markets while providing an effective set of risk management tools for our customers. By acting as the central counterparty to every trade, we mitigate counterparty credit risk, and improve operational and capital efficiencies.
We are continuing to expand the asset classes and products available for clearing at CME Clearing Europe, and intend to be in a position, when mandatory central clearing of OTC derivatives comes into effect under the European Union's Market Infrastructure Regulation (EMIR), to offer a similar comprehensive range of clearing solutions, as is available in the US at CME Clearing.