FIA opposes CME-CBOT merger

The association said there was already no "meaningful competition" among US futures and clearing facilities; the merger would exacerbate the situation and make it more difficult for new entrants to enter the market. FIA also warned that the merger would concentrate too much market power in the new group.

The CME and CBOT responded that the merger would help the exchange compete against national securities exchanges entering the futures market, as well as helping the US compete in the global derivatives market. The CME also emphasised expected cost efficiencies that could save shareholders $125 million and customers $70 million a year.

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