CME Group Prevails in Antitrust Case Brought by Eurex Subsidiary
CHICAGO, Nov. 1, 2018 /PRNewswire/ -- CME Group today released the following statement regarding the dismissal of a 15-year old antitrust lawsuit filed by the United States Futures Exchange, the former U.S. subsidiary of Eurex:
"We are extremely pleased to be vindicated from these baseless antitrust charges after litigating them for more than a decade. USFE, which hasn't been in operation for years, by its own admission failed to attract customers and effectively compete in the U.S. market due to its own missteps – offering inferior liquidity on a substandard platform without any economic incentive for clients to trade its product. With this long-running case now resolved, we continue to focus on providing the products and services that help global market participants effectively manage their risk and pursue opportunities."
The case is U.S. Futures Exchange, LLC and U.S. Exchange Holdings, Inc. v. Board of Trade of City of Chicago, Inc. and Chicago Mercantile Exchange, Inc., No. 04 C 6756, in the United States District Court for the Northern District of Illinois. Skadden, Arps, Slate, Meagher & Flom LLP acted as CME Group's legal advisor.
About CME Group
As the world's leading and most diverse derivatives marketplace, CME Group (www.cmegroup.com) is where the world comes to manage risk. CME Group exchanges offer the widest range of global benchmark products across all major asset classes, including futures and options based on interest rates, equity indexes, foreign exchange, energy, agricultural products and metals. Around the world, CME Group brings buyers and sellers together through its CME Globex® electronic trading platform. CME Group also operates one of the world's leading central counterparty clearing providers through CME Clearing, which offers clearing and settlement services across asset classes for exchange-traded and over-the-counter derivatives. CME Group products and services ensure that businesses around the world can effectively manage risk and achieve growth.
CME Group, the Globe logo, CME, Chicago Mercantile Exchange, Globex and E-mini are trademarks of Chicago Mercantile Exchange Inc. CBOT and Chicago Board of Trade are trademarks of Board of Trade of the City of Chicago, Inc. NYMEX, New York Mercantile Exchange and ClearPort are trademarks of New York Mercantile Exchange, Inc. COMEX is a trademark of Commodity Exchange, Inc. Dow Jones, Dow Jones Industrial Average, S&P 500 and S&P are service and/or trademarks of Dow Jones Trademark Holdings LLC, Standard & Poor's Financial Services LLC and S&P/Dow Jones Indices LLC, as the case may be, and have been licensed for use by Chicago Mercantile Exchange Inc. All other trademarks are the property of their respective owners.
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SOURCE CME Group
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