CME Cautions on Regulatory and Clearing Risks in U.S. Treasury Markets

24 days ago

Terry Duffy

"My concern was that futures expire into cash. So what's the difference between a future and the cash market once expiration happens on the future? Why wouldn't you treat them the same? ... My issue is the U.S. ... should have the laws of its foreign sovereign debt be by the laws of that nation. And we don't have that in this particular situation."

Terry Duffy voices concerns regarding the regulatory framework and clearing process for U.S. Treasury futures, highlighting that clearing these contracts under U.K. law could expose U.S. markets to risks. He stresses the importance of aligning product regulation with domestic legal frameworks to protect market integrity.

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