The power behind the throne: CME and the fight for futures market supremacy


"We warned them. We said they were messing with the family jewels, and the Chicago exchanges would do everything in their power – whatever it takes – to protect their business,” says the head of one large futures trading firm, recalling a conversation he had with executives from Eurex during a dinner in Chicago in 2003, shortly after the German futures exchange had announced plans to compete in the US Treasury futures market by launching an electronic venue. “But they