In an all-out push to make Eurex's entrance into the US as difficult as possible, Chicago's futures exchanges are simultaneously lobbying Congress to stop the entrance of foreign exchanges and making moves that may influence voting on Eurex's clearing deal with The Clearing Corporation (TCC).
Sources told FO Week that Chicago Board of Trade (CBoT) and Chicago Mercantile Exchange (CME) lobbyists were able to forge the 16 October Congressional meeting where Eurex and other exchange executives are expected to speak on Eurex's application for exchange status in the US. The meeting of the Subcommittee on General Farm Commodities and Risk Management, a subcommittee of the House Agriculture Committee, also coincides with the final day for comment letters to Commodity Futures Trading Commission (CFTC).
What impact the hearing will have on CFTC and the application process is still unknown at this point. Travis Murphy, a spokesperson for Republican...