Inside these posts: EFFs

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CME says ban on ELX rule not anti-competitive

CME Group Inc. told the Commodity Futures Trading Commission that CME’s ban on a type of trade that would help rival ELX Futures LP easily capture business from CME is not anti-competitive.

In a 70-page letter posted on the regulator’s website on Friday, CME asked the CFTC to reconsider its endorsement of so-called exchange for futures trades, or EFFs, repeating its view that there is no compelling reason for it to allow them. Get the full story »

CME Group continues ban on EFFs

CME Group Inc. said Monday it would continue to prohibit a trade rule called “exchange of futures for futures” that would easily allow investors to move U.S. Treasury contract positions between it and smaller rival ELX Futures LP.

The giant exchange operator said a recent letter from the Commodity Futures Trading Commission on the issue does not change the rules of its Chicago Board of Trade unit, which clearly prohibits EFFs.