No Vote For CBOT Traders On Grain Price Rule, Judge Hears

Law360, Chicago (November 6, 2013, 9:10 PM EST) -- A CME Group Inc. director testified Wednesday that Chicago Board of Trade members had no right to vote on a controversial rule change to include electronic trades — rather than floor trades alone — to calculate daily settlement prices for grain futures, as trial concluded in a feud between the exchange operator and disgruntled traders.

Two dozen floor traders at CBOT — which merged with CME in 2007 — sued the exchange operator last June in Illinois court over the decision to add electronic trades to...
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