CME's Duffy on Illinois Trading Tax and Spoofing

The transcript discusses a proposed tax on CME trades, highlighting its potential negative impact on liquidity providers and the Illinois economy. The speaker argues against the tax, suggesting it could drive business away from Illinois. The discussion also covers CME's strategic changes, competition, and efforts to ensure fairness in trading. The transcript addresses concerns about spoofing and manipulation, detailing CME's preventative measures. Finally, it explores the potential impact of Fed rate hikes on CME's trading activities.

What is the speaker's stance on the urgency of the proposed tax legislation?

How does the speaker describe the relationship between liquidity and the proposed tax?

What measures does the CME take to prevent spoofing and ensure market integrity?