CME Group Inc. (CME) Executive Chairman Terry Duffy said a plan to allow U.S. futures regulators to charge user fees would harm U.S. exchanges trying to compete globally.

The proposal "could put us at the biggest disadvantage we've ever seen," Duffy told reporters after a hearing in Washington.

The Obama administration on Monday proposed letting the Commodity Futures Trading Commission charge $117 million in user fees to fund a large increase in its budget for fiscal year 2012.

Duffy cited the proposed merger of NYSE Euronext and Frankfurt-based Deutsche Boerse to illustrate his point. The combined entity "would have a huge derivatives business based in Europe which would not be subject to any type of user fee transactions," he said.

-Jessica Holzer, Dow Jones Newswires; 202-862-9228; jessica.holzer@dowjones.com
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