CME, CBoT launch major offensive
Chicago Mercantile Exchange (CME) and Chicago Board of Trade
(CBoT) have launched full-bore attacks on Eurex, accusing the
exchange of attempting to take over the US futures markets from
abroad and introduce pernicious trading practices.
Both Chicago exchanges submitted lengthy comment letters to
CFTC, blasting Eurex's application for designated contract
market status. CME's incoming ceo wrote the application was
"replete with deficiencies and inconsistencies" and suggested
that the new exchange would be run from Frankfurt, outside the
jurisdiction of US regulators.
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