Regulators Pushed CME To Alter Grain Price Rule, Judge Told

Law360, Chicago (November 5, 2013, 8:42 PM EST) -- CME Group Inc. was pressured by regulators and customers to use electronic trades — rather than floor trades alone — to calculate daily settlement prices for grain futures before it changed its rules last year, a former CME official said Tuesday at trial in a lawsuit brought by disgruntled floor traders.

In June 2012, two dozen traders at the Chicago Board of Trade, a CME subsidiary, sued the exchange operator in Illinois court over its decision to include electronic trades in the settlement process, claiming the...
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.