Battle royal in Chicago 2

Chicago Mercantile Exchange (CME) and Chicago Board of Trade (CBoT) have launched full-bore attacks on Eurex, accusing the exchange of attempting to take over the US futures markets from abroad and introduce pernicious trading practices.

Both Chicago exchanges submitted lengthy comment letters to CFTC, blasting Eurex's application for designated contract market status. CME's incoming ceo wrote the application was "replete with deficiencies and inconsistencies" and suggested that the new...