The proposed $11 billion merger between CME Group and NYMEX Holdings futures exchanges has come under scrutiny by the US Justice Department. At issue is the possibility that the proposed merger will further hinder competition in the lucrative area of Clearing, where a large part of the Exchanges revenues are generated through the Clearing House's fees.
Word on the street is that the Justice Department staff didn't like the CME-CBOT merger from last year either, but were overruled by higher-ups in the department. The compressed time frame to get this deal approved has lead some to believe the merger has a better chance of approval under the current administration.
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