U.S. futures regulators gave the go-ahead Tuesday to a new clearinghouse venture that will underlie NYSE Euronext's (NYX) planned drive into fixed-income derivatives.

The Commodity Futures Trading Commission approved the New York Portfolio Clearing facility as a derivatives clearing organization, opening the way for the parent of the Big Board to challenge a key business of CME Group Inc. (CME).

New York Portfolio Clearing is a joint venture between NYSE Euronext and the Depository Trust & Clearing Corp., the dominant clearer of U.S. equity and Treasury trading. Planned since mid-2009, the new facility aims to let traders put up collateral against transactions in U.S. government issues alongside positions in related futures contracts.

Walt Lukken, former acting chairman of the CFTC, is serving as chief executive of the NYPC unit. NYSE Euronext aims to launch the business late in the first quarter of 2010.

Shares in NYSE Euronext climbed in early trading Tuesday, recently 2.3% higher at $32.54.

-By Jacob Bunge, Dow Jones Newswires; 312-750-4117; jacob.bunge@dowjones.com
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