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 laughed it off and just gav

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