Journalists reveal CME plans to offer direct derivatives trading

The Chicago Mercantile Exchange (CME Group) has sent regulators a proposal that envisions trading derivatives without intermediaries. The Wall Street Journal reports.

Earlier, the FTX has approached the CFTC with a similar idea to register as FCM.

The Block The Block reminded us that in May, during congressional hearings, CME Group CEO Terrence Duffy spoke out against the FTX proposal. He called it “a false statement about innovations that are little more than cost-cutting mechanisms.”

The WSJ noted that approval of CME’s bid could undermine the FCM business, which would have to contend with lower fees from the new rival.

In September, the exchangelaunched Ethereum options.

In August, CME Group announced the listing of euro-denominated futures on the second-largest cryptocurrency.

In July, clients of the US arm of the bitcoin exchange FTXgained access to trading traditional stocks.

Earlier, Bloomberg analyst Eric Balchunas suggested that the SEC’s approval of the change in the clearing-model in the FTX filing would remove barriers to a spot Bitcoin ETF.

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