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CME Group Analyst Turns Bearish On ‘Credible’ Competitor’s Market Entry: FMX Exchange’s Partners Are ‘Frustrated’

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Shares of CME Group Inc (NASDAQ:CME) tanked in early trading on Friday, on the heels of alleged insider selling.  

FMX Exchange is entering the U.S. interest rate futures market. It will likely compete with CME Group in its flagship futures contract, according to JPMorgan.

The CME Group Analyst: Kenneth Worthington downgraded the rating for CME Group from Neutral to Underweight, while reducing the price target from $206 to $187.

The CME Group Thesis: FMX Exchange has a set of partners who are “frustrated with CME’s behavior as a monopoly, and some of them …

Full story available on Benzinga.com

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