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CME Group Inc. Executive Chairman Terry Duffy said a plan to allow U.S. futures regulators to charge user fees would harm U.S. exchanges trying to compete globally.
The proposal “could put us at the biggest disadvantage we’ve ever seen,” Duffy told reporters after a hearing in Washington. Get the full story »
CME’s politically-minded chairman, Terry Duffy, might make a good Illinois governor, says Chicago futures broker and exchange-industry gadfly John Lothian. Sending Duffy to Springfield would give state businesses better representation and continue a long tradition of public service by Chicago’s exchange leadership, according to Lothian. Get the full story »
From Forbes | A New York Times article this weekend about how a “secretive banking elite,” as the headline put it, rules the derivatives trade. The story details how a secret cabal of bankers meet regularly with and control the risk committee at ICE Trust, part of the IntercontinentalExchange.
That came as no surprise to Forbes investment writer Emily Lambert. But what was even more interesting to her was the story’s description of the influence the dealers have at CME Group, the exchange company run by Chairman Terrence Duffy and Chief Executive Craig Donohue — indicating that in the long-running derivatives power struggle between New Yorkers and Chicagoans, the New Yorkers have won. Get the full story>>
