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CME Group removes 3 pct margin cost to interest-rate swaps

Oct 17 (Reuters) - CME Group said on Thursday it has removed a temporary three percent margin cost it applied to certain products on its platform, imposed earlier in the week in anticipation of market gyrations as the U.S. debt ceiling approached.

In a statement, CME, the largest U.S. futures market operator, said it was removing this cost from over-the-counter interest-rate swap trades.

On Wednesday, CME imposed this margin, though it said it was temporary. U.S. lawmakers reached an agreement late Wednesday to extend the federal borrowing limit through early February, staving off a technical default that had spooked fixed income markets.