A group of traders has sued CME Group Inc, accusing the operator of the world's largest derivatives exchange of selling market data to high frequency traders, cheating other investors who lacked such access. In a complaint filed on Friday in the U.S. District Court in Chicago, William Braman, Mark Mendelson and John Simms said CME and its Chicago Board of Trade unit have since 2007 given high-frequency traders early access to purchase and sell orders.They said this deprived other investors of the transparent, real-time data on futures and interest rate contracts that they thought they were getting, and were paying for."The defendants have perpetrated a fraud on the marketplace and intentionally concealed the activities of a select class of market participants from the rest of the defendants' customers and marketplace users," the complaint said.CME, which is based in Chicago, has denied wrongdoing.
CME Group Inc. (CME Group) offer a range of global products across all asset classes based on interest rates, equity indexes, foreign exchange, energy, agricultural commodities, metals, weather and real estate. Shares of CME traded higher by 0.79% or $0.53/share to $67.48. In the past year, the shares have traded as low as $58.36 and as high as $84.71. On average, 2180190 shares of CME exchange hands on a given day and today's volume is recorded at 671698.
Source
