JPMorgan Spars With CME Over $375 Million
This article is for subscribers only.
JPMorgan Chase & Co. is locked in a debate with CME Group Inc. over whether the owner of the world’s biggest futures market is setting aside enough money to safeguard trades.
The dispute, highlighted this week at the Futures Industry Association conference in Chicago, is over the $375 million of its own money that CME has pledged in case a member defaults. If JPMorgan, one of the largest derivatives dealers in the world, had its way, CME’s “skin in the game” would almost double to $687 million.