The Chicago Mercantile Exchange (CME) and Commodity Futures Trading Commission (CFTC) issued an Order filing and settling charges against Nathan Harris, a registered trader, for fraud, unauthorized trading, and violating
Kennyhertz Perry partner Braden Perry talked to Reuters regarding the CME’s new rules, including the change in fines. The owner of the Chicago Board of Trade, New York Mercantile Exchange
A last ditch effort to save open outcry in the Chicago Mercantile Exchange (CME) and Chicago Board of Trade (CBOT) futures pits is likely to fall short, Braden Perry, a former CFTC senior trial attorney and Partner with Kennyhertz Perry said in a Reuters article. The effort, launched by traders to delay the July 6 closing, claims the CME has failed to provide the CFTC adequate information on the rationale of the closing, and leaves certain trading strategies without proper alternatives. “It really comes down to the numbers of people who are trading still in the open-outcry system,” Perry said. The CME estimates that floor trading in Treasury futures represented 1.8 percent of total volume last year.
To read the entire article, please visit: http://www.reuters.com/article/2015/06/25/cme-group-futures-closure-lawyers-idUSL1N0ZB2QJ20150625
