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JPMorgan, Citadel, Goldman join BGC-led exchange in match-up against CME

FMX Futures Exchange is the latest to challenge the Chicago exchange giant

BGC boss Howard Lutnick strikes another deal as trading competition hots up
BGC boss Howard Lutnick strikes another deal as trading competition hots up Photo: Rob Kim/Getty Images

Ten banks and trading houses have partnered with broker BGC Group as it prepares to launch a new futures exchange to rival CME.

Bank of America, Barclays, Citadel Securities, Citi, Goldman Sachs, JPMorgan, Jump Trading Group, Morgan Stanley, Tower Research Capital, and Wells Fargo have taken minority ownership stakes in FMX Futures Exchange, which will trade interest rate derivatives.

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