CME Group · The Block
CME Group, the world's largest futures exchange operator, is planning to sue the Commodity Futures Trading Commission
Compiled by KHAO Editorial — aggregated from 2 sources. See llms.txt for citation guidance.
◎ Multiple-sources
Perpetual futures, or perps, are a type of derivatives that don't have an expiration date and allow people to bet on the price movement of assets without owning them directly.
Key facts
- CME's Duffy also criticized CFTC's approval of perpetual futures at a conference earlier this month, particularly the elevated leverage compared to CME-listed markets
- I have grave concerns with the way these contracts are set up," Duffy said at the Piper Sandler Global Exchange & Fintech Conference
- The current market behavior is similar to that ahead of the 2008 financial crisis, Duffy also said
- Duffy, who plans to step down from his role in March 2027, told CNBC on Wednesday that he is "always up for a good battle," and that the company is not taking this matter lightly
Summary
CME Group, the world's largest futures exchange operator, is planning to sue the Commodity Futures Trading Commission over the agency's decision to approve perpetual futures contracts. Last month, the CFTC approved bitcoin perpetual contracts as futures contracts. While perps trading has grown popular in recent years, most of the action has been occurring outside of the U.S. due to regulatory ambiguity. CME's Duffy also criticized CFTC's approval of perpetual futures at a conference earlier this month, particularly the elevated leverage compared to CME-listed markets.