“A group of traders has sued CME Group Inc, accusing the operator of the world’s largest derivatives exchange of selling market data to high frequency traders, cheating other investors who lacked such access.
“In a complaint filed on Friday in the U.S. District Court in Chicago, William Braman, Mark Mendelson and John Simms said CME and its Chicago Board of Trade unit have since 2007 given high-frequency traders early access to buy and sell orders.
“They said this deprived other investors of the transparent, real-time data on futures and interest rate contracts that they thought they were getting, and were paying for.
“The defendants have perpetrated a fraud on the marketplace and intentionally concealed the activities of a select class of market participants from the rest of the defendants’ customers and marketplace users,” the complaint said.
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