DOJ Questions Exchange-Owned Futures Clearing

Law360, New York (February 6, 2008, 12:00 AM EST) -- Federal antitrust regulators have suggested changing the rules to bar futures exchanges from controlling their own clearing mechanisms, arguing that the current system potentially hinders competition among exchanges.

The Antitrust Division of the U.S. Department of Justice advised the U.S. Department of the Treasury of its conclusions in a letter dated Jan. 31.

The CME Group Inc., which controls about 85% of the U.S. futures trading market and owns the Chicago Mercantile Exchange, responded by voicing support of the current regulations, which permit exchanges to run...
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