Frankfurt vs Chicago: Futures fight rumbles on in the courts


CME Group is a big, successful company – too big, according to some. Speaking to Risk earlier this year, Michael Spencer, the chief executive of interdealer broker Icap, called it a monopoly and said he was astonished that the US Department of Justice (DOJ) considers that acceptable: “You have to reflect on how powerful the Chicago lobby is to enable that to continue,” he said.

This is a familiar refrain among over-the-counter market participants, but push past the shadowy, non-specific claims o

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