futures exchange

Lawmakers dismissed the concerns of his and other commodities executives as merely those of futures exchanges fearful of a new competitor.

Its founder, John Aristotle Phillips, created the site in 2014 as part of a collaboration with Victoria University of Wellington, in New Zealand, which had created a futures exchange tied to political events.

Last year, for example, it bought LedgerX LLC, a futures exchange, which gave it three Commodity Futures Trading Commission licenses in one swoop.

CSRC, which supervises the futures exchange, did not respond to a request for comment.

China's securities regulator has said it would ask futures exchanges to raise fees, restrict trading quotas and crack down on speculation in response to high coal prices.