The Phaserl


Duffy Tells Senate Futures Markets Are Not Rigged as Futures Traders File Lawsuit Alleging a “Clandestine” Conspiracy

by Pam Martens and Russ Martens, Wall Street on Parade:

Someone is perjuring themselves to Federal officials and that individual(s) should enjoy a nice long sabbatical at the courtesy of the taxpayer, forgoing the staid Armani for the more robust orange jump suit.

Following SEC Chair Mary Jo White’s less than credible testimony to the House Financial Services Committee on April 29 that “the markets are not rigged,” Terrence Duffy, Executive Chairman and President of the CME Group which owns the Chicago Mercantile Exchange, the largest futures exchange in the world, delivered the same message to the Senate Agriculture Committee yesterday.

Duffy testified that “Our market data is sent to everyone at once. While customers have several options in terms of how they can receive data from us, we do not restrict access.  Having multiple connectivity options makes our markets accessible to a broader array of participants.”

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