CME Asks CFTC To End Futures Antitrust Probe

Law360, New York (February 17, 2010, 4:48 PM EST) -- CME Group Inc. has urged U.S. regulators to drop a probe into whether the exchange operator violated antitrust laws by refusing to allow futures trades from a potential rival.

In a letter to the U.S. Commodities Futures Trading Commission, CME’s general counsel Kathleen Cronin said that there is long-standing precedent for its decision to prohibit so-called exchange of futures for futures transactions. The letter was dated Feb. 8 and posted to the CFTC’s Web site on Wednesday.

New York-based startup ELX Futures LP is trying to...
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