of a emerging markets division. The new growth and emerging markets division will begin trading futures and options contracts of developing economies on Dec. 1. The contracts will be based on currencies, interest rates, and stock indices of the countries covered. The vote, conducted on Nov. 2, marks the first time in 13 years that the exchange has created a new division. The vote was 8-1. The new division will have 467 seats, 50 of which will be sold publicly at $30,000 each. The exchange said it has already received 500 applications for the 50 publicly available seats.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.