THE BLOCK: The Capital Markets Alliance, comprised of big exchanges and market makers, has sued the CFTC just hours after the agency approved perpetual futures contracts tied to individual stocks on Tuesday. "Coherent regulatory oversight underpins the global preeminence of U.S. securities markets," said Adam Ford, secretary of CMA. "The hasty roll out of financial products that circumvent well-established regulatory frameworks erodes investor protection and undermines the integrity and resiliency of the American financial system."