NEW YORK--A war of words has broken out between major US exchanges and Cantor Fitzgerald over the proposed Cantor Financial Futures Exchange (CFFE). The Chicago Board of Trade (CBOT) claims that the new exchange doesn't meet regulatory requirements. Cantor officials deny this and say its proposed electronic bond futures exchange will lower clearing costs and decrease operational risks for end-users.
The proposed CFFE is owned by the New York Board of Trade (NYBT) and its members. It will star