CME/Nymex defend clearing operations
Exchanges defend vertically integrated clearing in face of increasing scrutiny over merger proposals
Following yesterday’s call from the US Justice Department for clearing houses to be made separate from the exchanges that own them, both the CME Group, parent company of the Chicago Mercantile Exchange (CME), and the New York Mercantile Exchange (Nymex) have issued statements in response.
In a briefing released yesterday, the US Justice Department (DoJ) said that financial futures markets that offer their own clearing services could be anti-competitive, possibly placing an obstacle in the way of
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