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...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.