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Justice Dept seeks change on futures exchanges: report
February 6, 2008 / 9:34 AM / 10 years ago

Justice Dept seeks change on futures exchanges: report

NEW YORK (Reuters) - The U.S. Justice Department has called for change in financial futures exchanges, saying they should not own the trade clearing business as it inhibits competition, The Wall Street Journal reported on Wednesday.

<p>Traders and clerks in the Eurodollar options pit of the Chicago Mercantile Exchange in Chicago, Illinois, signal orders shortly after the Federal Open Market Committee lowered short-term interest rates a half percentage point, January 30, 2008. REUTERS/Frank Polich</p>

The report said the Justice Department’s recommendation could affect the potential merger of CME Group Inc CME.N, parent of the Chicago Mercantile Exchange, and Nymex Holdings Inc NMX.N, parent of the New York Mercantile Exchange.

Department officials were not immediately available for comment.

Reporting by Ritsuko Ando

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