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CME Group Sues CFTC to Block Swap Rules

Exchange challenges cleared-swaps reporting requirements.

By Tom Schoenberg, Bloomberg | Updated on November 09, 2012

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.

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