CFTC Says CME’s Own Crypto Futures Data Shows No Harm From Perpetual Futures

The Commodity Futures Trading Commission is using CME’s own trading numbers and earnings-call remarks to argue that the exchange operator has no standing to challenge the agency’s approval of perpetual futures for U.S. exchanges. In a reply brief filed on Oct. 16 in the U.S. District Court for the District of Columbia, CFTC lawyers said CME has not alleged any concrete financial injury from the products, which the regulator cleared in May. “Competitor standing, however, is not some kind of Article III unicorn,” the brief said. The filing supports the agency’s pending motion to dismiss, and the court has not ruled on it. Get Unchained’s crypto news in your inbox with the free Unchained Daily newsletter .

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