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A start-up futures exchange is confidently entering the ring to take on the Goliath CME Group, but few industry observers so far are betting on the underdog. A consortium of global banks, hedge funds and a technology vendor is building a new low-cost US futures exchange to rival the CME, which could soon control 98 percent of US futures contracts if its bid to buy the New York Mercantile Exchange (Nymex) goes through.
Bank of America, Barclays Capital, Citi, Credit Suisse, Deutsche Bank
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