CFTC’s Chilton Seeking Review of CME Wash-Trade Restrictions

CFTC’s Chilton Seeking Review of CME Wash-Trade Restrictions

U.S. regulators should review CME Group Inc. (CME)’s plan for blocking wash trades to ensure that it sufficiently restricts the illegal transactions, said Bart Chilton, a member of the Commodity Futures Trading Commission.

CME’s plan for preventing the trades, in which a party buys a contract from itself, should be put on hold and not automatically take effect July 1, Chilton said in remarks prepared for a speech today at the Trading Show Chicago 2013 conference. Chilton, one of three Democrats among the CFTC’s five commissioners, said the agency should take additional steps to vet the CME guidance and determine if other exchanges will have similar or better policies.

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One Response to CFTC’s Chilton Seeking Review of CME Wash-Trade Restrictions

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