Regulators clear CME-CBOT merger

The US Department of Justice has approved the takeover of the Chicago Board of Trade by the Chicago Mercantile Exchange, saying it was "not likely to substantially reduce competition".

The merger had been cast into doubt by a rival bid from the Atlanta-based Intercontinental Exchange (ICE), which had suggested that combining the two Chicago bourses would reduce competition. But the regulator said the two exchanges "seldom compete head-to-head".

The most important competition for the exchanges is

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