The CFTC's latest filing argues CME lacks legal standing, saying the exchange "must plausibly allege an actual or imminent increase in competition" and "has not even done that." The agency notes CME told investors it sees no demand for perpetuals and that they aren't substitutes for its futures, contending CME "cannot have it one way with the court and another way with the investing public." CME claims perps are swaps, not futures, due to lacking expiration dates. TD Cowen's Jaret Seiberg still sees CME holding an edge, while the new market faces time pressure.

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Thread · 2 events · started 23 Jun 19:54 · last update 19 Oct 23:47
  1. UpdateCFTC challenges CME Group’s legal stance on its perpetual futures policy2 acc.
  2. UpdateCFTC pushes back against CME lawsuit over crypto perpetual futures4 acc.
  3. Leviathan published this article

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Cited posts

  • @scottmelker The Wolf Of All StreetsOn X ↗

    LATEST: 🇺🇸 CFTC PUSHES BACK AGAINST CME GROUP'S LAWSUIT OVER CRYPTO PERPETUAL FUTURES, ARGUING CME FAILED TO PROVE FINANCIAL HARM FROM ALLOWING THE CONTRACTS TO TRADE ON REGULATED U.S. EXCHANGES

  • @CointelegraphFirst reportOn X ↗

    🇺🇸 UPDATE: The CFTC urged a federal court to dismiss CME’s lawsuit challenging its approval of crypto perpetual futures, arguing the exchange has shown no concrete financial harm.

2 more accounts posted about this · 1 Telegram channel (no public link)

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Positioning

Open2 open positions · 2 long · 0 short

Tracked accounts lean long about 97% of the time, so a long-heavy book is normal, not a signal. As of 3 Oct 08:56 UTC.

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Crowding0th percentile · vs last 28 days, 50 typical
Pulse 24h45/100 · unusualness of new calls, 0–100, 50 typical, higher means more long than usual
Book93.6% long · 2,962 accounts

As of 20 Oct 03:05 UTC.

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