Billionaire Howard Lutnick will this week make a third assault on CME Group’s interest rate futures dominance, with the high stakes at play demonstrated by a lively trade in barbs between the New York-based trader and the Chicago exchange’s veteran head, Terry Duffy.
Lutnick’s BGC Group will debut trading in rate futures on his FMX venue in a direct assault on one of the biggest fortresses in global financial markets: CME’s hold on futures on US rates and government debt.
Backing him…
Read the full article here