Reuters is reporting that a Chicago Mercantile Exchange executive contends less scrutiny is luring trading volume to less-transparent exchanges.
During the U.N. Global Commodities Forum in Geneva, the wire service spoke with Bob Ray, CME's head of international products and services, who told them that "ambiguity" in drawing some traders to "other markets." Ray's point was that any regulatory changes must be done on a global scale.
Ray's contention comes amid Commodity Futures Trading Commission efforts to impose stricter rules on U.S. exchanges, including tightening the position limits in the energy markets.
Regulatory arbitrage under way in commodities-CME