CME Group Inc. announced Thursday that its long-delayed credit derivatives clearing effort would officially launch Dec. 15, with the support of eight dealer banks as founding members in the effort.

The derivatives exchange operator said it had signed agreements with Barclays Capital, Citigroup Inc., Credit Suisse Group, Deutsche Bank AG, Goldman Sachs Group Inc., JPMorgan Chase & Co., Morgan Stanley and UBS AG to support the initiative.

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