Cook County Circuit Court Judge Jean Prendergast Rooney in
Chicago ruled that CME Group, which owns the Chicago Board of
Trade, had the authority to implement the settlement method in
A group of traders from the CBOT's 140-year-old agricultural
trading floor sued the exchange in June 2012 to overturn the
method, saying that it was putting them out of business. Prior
to the change, CME Group had a century-old tradition of settling
futures prices for crops like corn and soybeans based on
transactions executed in open-outcry pits.
(Reporting by Tom Polansek; editing by Steve Orlofsky)
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