The report shows that in November 2007, Eurex, a clearing house, raised questions about the trades.
The New York Commodities Exchange also tried and failed, as did Eurex, a German-Swiss affair.
Competition from Eurex, a European derivatives exchange that entered Chicago last year, helped spur change.
LIFFE, the futures exchange, has seen its busiest contracts melt away to Eurex, its cheaper Frankfurt-based rival.
The bank says that Eurex's questions were rather technical in nature and that it had responded to them.
MATIF, France's futures exchange, links up with Eurex, it will first have to introduce an electronic trading system.
Eurex has since eased the rules on bond delivery and softened its fines for failing to deliver on time.
America's derivatives regulator has allowed Liffe and Eurex, another derivatives exchange, to install their screens in the United States.
The exchanges are responding to a link-up between its two biggest rivals, the Chicago Board of Trade and Europe's Eurex.
In October 2006 Eurex sold 65% of its American experiment to Man Group, parent to cme's largest executing and clearing member.
Eurex coveted the Board of Trade's biggest contracts, futures on Treasury bonds, which were still rooted in its old-fashioned trading floors.
Whatever happens in Washington, the competitive landscape in Chicago has already changed dramatically since January, when Eurex first tipped its hand.
ECONOMIST: Eurex attacks, Chicago's exchanges defend themselves
According to Mr Mustier, margin data from Eurex showed only consolidated positions.
To put this into perspective, Eurex's ten-year Bund contract averages 500, 000 contracts a day (euro50 trillion), with euro90 billion in open interest.
Eurex, which has hit back with an antitrust lawsuit, has friends too.
ECONOMIST: Eurex attacks, Chicago's exchanges defend themselves
Katz serves on the executive board of Eurex and also represents the ISE on the board of directors of The Options Clearing Corp.
Meanwhile, Deutsche Boerse would face similar constraints if it decided to make its own clearing provider, Eurex Clearing, the main provider for the LSE.
BBC: The watchdog's report could spark further bids for the LSE
Among the larger hubs, Frankfurt is an important centre for banking and derivatives trading through Eurex, a German-Swiss exchange, with significantly lower costs than London.
ECONOMIST: If you can't be the biggest, offer something special
Eurex, Europe's largest futures exchange, contacted SocGen about oddities in trading patterns in late 2007, which the Paris prosecutor says referred to Mr Kerviel's positions.
The CBOT's Project A electronic system will likely merge with Eurex.
They also voted out their reform-minded chairman in favour of a traditionalist, and on January 27th, voted down plans for a shared electronic-trading system with the Swiss-German Eurex exchange.
It would like, for example, to attract more members to its Xetra trading platform, and to the Eurex derivatives market, which it owns jointly with the Swiss stock exchange.
In truth, that should not have been too difficult: as well as consolidated figures, Eurex says it does already send data that tie margins to specific traders on a daily basis.
Eurex, an on-line system owned by Swiss and German exchanges, has whittled the London International Financial Futures and Options Exchange's share of the German bund futures contract from 70% to 10%.
Duffy and Donohue wanted its business, and so did Eurex of Frankfurt, the world's largest derivatives exchange, which set up a U.S. unit in the Sears Tower between Chicago's two exchanges.
Ironically, Eurex's ambitions ultimately played into the Merc's hands.
One character trading on the Eurex system, a trader known as the Flipper, occasionally posted an offer to sell a large position in contracts on the Schatz, the two-year EU government bond, at a low price.
One such character trading on the Eurex system, a trader known as the Flipper, occasionally posted an offer to sell a large position in contracts on the Schatz, the two-year EU government bond, at a low price.
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