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Howard Lutnick Takes Aim at CME's Dominant U.S. Rates Exchange - Bloomberg

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Howard Lutnick shook up Treasuries trading in the 1990s, and now he wants to take another crack at it, this time in the market for futures linked to U.S. government debt.

The billionaire, speaking on BGC Partners Inc.’s earnings conference call Wednesday, said he plans to create a futures exchange to take on CME Group Inc.’s dominant franchise for interest-rate derivatives. Lutnick is chairman and chief executive officer of BGC, a broker affiliated with Cantor Fitzgerald LP.

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Howard Lutnick Takes Aim at CME's Dominant U.S. Rates Exchange - Bloomberg
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