Widespread resentment towards the Chicago Mercantile Exchange's (CME) perceived lack of adequate regulations and practices has followed from the recent MF Global meltdown.

The anger that market participants are expressing towards the exchange's regulation of the MF Global customer accounts is triggering the desire for a regulatory overhaul, according to Reuters. Eight weeks after the troubled broker dealer disintegrated into bankruptcy, customer funds totaling as much as $1.2 billion are unaccounted for.

"This was the failure of a firm. A firm that broke the rules, not the failure of any clearing house. At CME, we met our obligations," Bryan Durkin, chief operating officer of CME Group, told attendants of the National Grain and Feed Association earlier in December, according to the media outlet. "We believe all customers affected should have their full balances and property returned by MF Global. Until then, we will not consider the process complete."

Data provided by Reuters on December 21 indicated that the U.S. market for commodities has contracted almost 10 percent since the broker dealer collapsed. Various market participants including traders, farmers and invested closed out their positions.