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Financials

CME Group's Green Exchange gets CFTC approval

CHICAGO, July 23 (Reuters) - CME Group Inc's CME.O Green Exchange LLC won regulatory approval as a designated contract market on Friday, adding a fourth regulated exchange to CME's stable.

The approval will allow CME, the world's largest futures exchange operator, to consolidate all its climate-related contracts on a single market, as it competes with rival IntercontinentalExchange Inc ICE.N-owned Climate Exchange Plc.

ICE bought the Britain-based Climate Exchange in July.

CME will provide Green Exchange an electronic trading platform, clearing, and regulation, according to a statement Thursday from the Commodity Futures Trading Commission.

CME is the largest equity owner of the Green Exchange. Other owners include Evolution Markets Inc., Morgan Stanley MS.N Capital Group Inc., Credit Suisse MLPN.P, Goldman Sachs Group GS.N.

CME also runs the Chicago Mercantile Exchange, the Chicago Board of Trade and the New York Mercantile Exchange.

Reporting by Ann Saphir; Editing by Paul Simao

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