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 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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