The Chicago Mercantile Exchange (CME Group) has just submitted a proposal to regulators that includes arranging derivatives trading without the involvement of intermediaries, the Wall Street Journal has reported.
FTX has previously filed with the CFTC a similar idea to register as a futures commission merchant (FCM).
Subscribe to our Telegram channel to get daily short digests about events that shape the crypto world
CME Group CEO Terrence Duffy opposed FTX's proposal in May at a congressional hearing, calling it a "false claim of innovation that is little more than a cost-cutting mechanism."
The WSJ has highlighted the approval of CME's application could undermine FCM's business, which will face lower commissions from a new competitor.
Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange
The exchange launched options on Ethereum in September.