The plaintiffs, who estimate that they are owed about $2b in damages plus interest, say the company broke its promises to them when it opened a data center for electronic trading that effectively doomed the old trading floors. CME has called the lawsuit baseless.
“Me being able to come down to the Board of Trade and get a membership, a full membership, was generational—a generational event…It was supposed to change my children, my grandchildren,” Petrow, one of the lawsuit’s plaintiffs, said in a 2020 deposition. He added that he was among the first people in his family to graduate from college.
