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. Last Updated: 07/27/2016

Merc Mulls Ruble Deal

CHICAGO -- The Chicago Mercantile Exchange plans to increase the size of its ruble contract as investor interest has picked up nearly two years after Russia defaulted on debt, sparking a near panic in financial markets, said a senior exchange official.

The new size for each contract would be roughly $88,000, said Scott Brusso, CME vice president in charge of currency marketing. Brusso said it must be approved by the regulatory agency Commodity Futures Trading Commission, and he offered no date for when a decision might be made. Each contract is now worth half a million rubles (about $17,860), Brusso said.