CME Group Drops Challenge To New CFTC Swap Rules

Law360, Los Angeles (November 29, 2012, 9:07 PM EST) -- CME Group Inc. on Thursday dropped its lawsuit in Washington federal court against the U.S. Commodity Futures Trading Commission seeking to block new rules for clearing swap transactions, after the agency eased back on some of the requirements.

The suit's dismissal comes one day after the CFTC withdrew a portion of a document that rules how trade-data information, including price and volume, is transported to new databases under the Dodd-Frank Act.

In a filing Thursday, CME Group announced it voluntarily dismissed without prejudice its suit opposing the new rules over swap transactions, a market that critics say lacks transparency and blame...

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