Damn, where have they been all this time? It's about time they give CME a good punch in the face. CME needs to be broken up. It's a friggin' monopoly.
"A group of financial firms including Bank of America, Citadel Securities, Goldman Sachs and JPMorgan Chase made minority equity investments into FMX, valuing it at $667 million, BGC said in a statement on Thursday." Big boys are backing FMX
I wouldn’t want anything to do with those scumbag banks and Citadel having a piece of the exchange where my orders go. They have shown countless times they can’t be trusted and will do anything to gain an advantage. F them
People forgetting that there is a "Small Exchange". Did this shit ever take off? https://smallexchange.com/
Liquidity is the goal. If end users went somewhere else cme loses monopoly status. Ice tries to compete in some products. There's been a few fixed income derivative exchanges that pop up.
But that's the whole point. There's no real competition and end users have nowhere to go. As for ICE (I'm literally laughing at this one, sorry), they're even worse than CME. Those two are not even competitors. On the contrary, they're a cartel colluding with one another to fix prices.