CME Group Inc.’s European clearinghouse won U.K. regulatory approval Thursday, paving the way for the biggest U.S. futures exchange operator to expand globally.

CME plans to launch CME Clearing Europe in early 2011, the Chicago-based company said in a statement. The clearinghouse will start by clearing over-the-counter commodity products, to be followed “soon after” by over-the-counter financial products, it said.

Regulators worldwide are forcing more of the $600 trillion off-exchange market for derivatives into clearinghouses after the financial crisis of 2008 highlighted the risks of allowing contracts to be traded directly between market participants.

CME and other clearinghouse operators have jumped at the opportunity to take advantage of the momentum, offering their services for an expanding array of products.

CME Clearing Europe has also applied for U.S. regulatory approval.