Chicago Mercantile Exchange (CME) is to change a number of oversight committees next year as part of ongoing governance structure improvements, amid increasing scrutiny of the self regulatory organisation (SRO) functions of exchanges.
After next year's annual meeting, CME will create a new board-level Market Regulation Oversight Committee, which will comprise independent, non-industry directors. The committee will conduct an annual review of CME's governance to look at the independence of CME's regulatory function from its business operations standpoint as well as management and regulatory personnel and salaries for self-regulation positions. The announcement comes after...