Futures Industry Association (FIA) has cast doubts over Chicago Mercantile Exchange (CME)'s acquisition of Chicago Board of Trade (CBoT), arguing that the newly combined CME Group would be anti-competitive.
In a statement from FIA, the organisation said that the deal runs counter to what it has long advocated - more competition in the exchange and clearing space. "FIA acknowledges that the merger could have short-term cost savings and operational efficiencies," it said. "In FIA's view, however, it would concentrate significant market power in the new CME Group, substantially lessen...