When NIBA saw the potential impact of CME Group data fee increases, it sought a meeting with the CME to discuss their concerns. NIBA met with the CME Group market data team on Dec. 2. Here is their report to members on that meeting.
I ran into an old friend at the Chicago Board of Trade yesterday and he told me the following joke: “What does Obamacare and CME Group’s new data fees have in common? One is 28,000 pages the other is 18 pages and both were voted on without anyone reading them.”
The implementation of Dodd-Frank has proven to be much more problematic for the regulated futures industry than initially thought and additional CFTC regulations following the MF Global and Peregrine Financial Group debacles will put extra burden on smaller non-bank FCMs.