Wigod v. Chicago Mercantile Exchange

Lee I. Wigod brought this action to vacate an arbitration award made by an arbitration committee of the defendant Chicago Mercantile Exchange (CME) and to enjoin collection of the award. Plaintiff now appeals from an order of the circuit court of Cook County dismissing that complaint and confirming the arbitration award. The sole issue on appeal is whether CME’s arbitration rules, to which plaintiff concededly has agreed to adhere, require the plaintiff to submit to arbitration.

We find that the rules do not establish mandatory arbitration and therefore we reverse.

The pertinent facts are not…