CFTC Bowed To CME On Swaps Data Rule, Suit Claims

Law360, New York (May 2, 2013, 3:59 PM EDT) -- The Depository Trust & Clearing Corp. on Thursday sued the U.S. Commodity Futures Trading Commission over an allegedly anti-competitive policy change that allowed rival clearinghouse CME Group Inc. to route information about swaps trades to its own database.

The suit in Washington federal court alleges the CFTC unfairly reversed course on a Dodd-Frank Act rule in response to a lawsuit by CME. The rule — part of an effort to increase transparency in the swaps market — requires CME and other derivatives clearing organizations, or DCOs,...
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