CME sued over HFT

|About: CME Group Inc. (CME)|By:, SA News Editor

Three former CBOT floor traders claim the CME and CBOT (both owned by CME Group) sold information to high-frequency traders - allowing them a peek at futures orders ahead of the rest of the market.

“We have only one data feed, no one can buy it to be faster than anyone else,” says a spokeswoman for CME Group. “No trader can see any other person’s order until it hits the order book, when it is made public.”

While the suit is not inspired by the Michael Lewis book, claims the trio's lawyer, she says her clients "felt vindicated" by it.