CME Group responds to HFT suit

CME Group Statement

CME Group, today released the following statement regarding the lawsuit, Braman v. CME Group and The Board of Trade of the City of Chicago:

"The suit is devoid of any facts supporting the allegations and, even worse, demonstrates a fundamental misunderstanding of how our markets operate. It is sad when plaintiffs' lawyers bring a suit based on a desire for publicity, and in the rush to file a suit fail to undertake even the most basic effort to determine if there is any basis for their allegations. The case is without merit, and we intend to defend ourselves vigorously."

In a separate statement, CME spokesperson Anita Liskey said, "CME Group only has one data feed that is distributed to all participants at the same time. No one can see another’s order until it hits the order book, when it is public. “

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