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CME Wins Battle Against ELX Futures

CME Group has won a two-year conflict against a rival that was challenging the group’s dominance of contracts used to hedge against or speculate on anticipated movements in key interest rates.

CME Group has won a two-year conflict against a rival that was challenging the group’s dominance of contracts used to hedge against or speculate on anticipated movements in key interest rates, Financial Times reports. As per a review by the Commodity Futures Trading Commission (CFTC), CME was not bound to shift futures positions from its platform to ELX Futures.

CME’s move to block any such transfers of trades did not violate derivatives-market law, which ELX had long argued was anticompetitive, said the CFTC. ELX is backed by banks, including Deutsche Bank, Credit Suisse, Bank of America Merrill Lynch and JPMorgan.

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