CME Turns to Yellen in Battle for Dominance of US Treasuries

CME Group Inc. is amping up the battle for market share in US Treasury futures, pulling all stops to thwart Howard Lutnick’s plan to launch rival contracts that clear in London.

Chief Executive Officer Terry Duffy, who has repeatedly raised concerns about Lutnick’s plan for clearing, said he has taken the issue to Treasury Secretary Janet Yellen. The 66-year-old also spoke with Securities and Exchange Commission Chairman Gary Gensler and Rostin Behnam, chairman of the Commodity Futures Trading Commission.

The crux of the matter hinges on whether the US should allow Treasury futures to be ...