CME don’t want to say November 22, 2012 at 6:29 am

Reporting OTC derivatives to trade repositories is one of the unequivocally good parts of post-crisis legislation. Such reporting is vital for regulators to have a complete view of the market. It is therefore perhaps no surprise that, as Bloomberg reports

CME Group Inc. (CME), the world’s largest futures market, sued the U.S. Commodity Futures Trading Commission, challenging cleared-swaps reporting requirements imposed under the Dodd-Frank financial reform legislation.

CME, in a lawsuit filed yesterday in federal court in Washington, seeks a permanent injunction against rules requiring registered derivatives clearing organizations, or DCOs, such as itself, to provide nonpublic reports of cleared swap transactions to a new swap data repository established under the act. CME has until Nov. 13 to comply.

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