CME Group Inc., the world's largest futures market, sued the U.S. Commodity Futures Trading Commission, challenging cleared-swaps reporting requirements imposed under the Dodd-Frank financial reform legislation.
CME, in a lawsuit filed yesterday in federal court in Washington, seeks a permanent injunction against rules requiring registered derivatives clearing organizations, or DCOs, such as itself, to provide nonpublic reports of cleared swap transactions to a new swap data repository established under the act. CME has until Nov. 13 to comply.
The rules “would impose costly, cumbersome, and duplicative requirements on DCOs,” CME said in the complaint.
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