CME Group chief executive Terrence Duffy says the exchange operator plans to sue the U.S. Commodity Futures Trading Commission (CFTC) after the regulator approves perpetual futures. Duffy tells CNBC and other outlets that the approval was improper under the Dodd-Frank Act framework. In his view, CME’s argument centers on how perpetual futures should be classified legally. Duffy says the products do not meet the definition of a “swap” should not be approved as approved by the CFTC, or alternatively that perpetual futures should be treated as swaps under Dodd-Frank—an interpretation that would affect how the products are regulated.
Several reports state that CME plans to file the lawsuit, with one outlet saying it intends to do so on Thursday. The sources describe the dispute as challenging the CFTC’s decision to permit perpetual futures, rather than contesting trading outcomes or market performance. The articles consistently attribute the planned litigation to Duffy and frame it as part of a legal response to the regulator’s approval of the perpetual futures product.
