CME Suffers Setback Over Futures Trading

CME Group (CME), operator of the Chicago Mercantile Exchange, has suffered a setback in its ability to maintain a virtual monopoly in trading of US futures contracts after regulators rebuffed its attempts to quash a challenge from a Wall Street-backed competitor. The Commodity Futures Trading Commission, the US futures markets watchdog on Monday rejected the CME’s claim that a futures contract offered by ELX, a smaller rival, was illegal. – FT

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