CME · Earnings call · 2026Q3T · Full report

CFTC Perpetual Futures Litigation

CME GROUP INC. · 2026-10-21 · Importance 17 · Surprise 24

CME’s General Counsel said a motion to dismiss in the perpetual-futures lawsuit has been filed and opposed by CME. The company expects briefing on the substance of the case to be before the judge in December 2026 and said it is awaiting the court’s decision. Management said CME will abide by the court’s decision and has not decided whether it would list perpetual contracts; Terry Duffy also argued that the funding-rate exchange in perpetuals is a swap under Dodd-Frank.

Key facts

• CME Group said a motion to dismiss in the perpetuals lawsuit had been filed and opposed, and expected the case to be fully before the judge in December 2026.
• CME Group said it would abide by the court's decision in the perpetuals case and had not decided whether it would list perpetual futures.