ELX beefs up management team

Source: ELX Electronic Liquidity Exchange

ELX Electronic Liquidity Exchange (ELX), a fully electronic futures exchange formed by 12 leading financial institutions, today announced the appointment of Daniel McElduff as Senior Vice President and Director of Compliance, and named G. Kurt Von Uffel as Senior Vice President and Director of Sales and Karen Ogulnick as Vice President and Director of Project Management.

Mr. McElduff will be responsible for ELX's surveillance and rule enforcement program. He joins ELX from Morgan Stanley where he was Executive Director, Commodities and Futures Compliance. Previously he was Director, Commodities, Futures and FX Compliance at Barclays Bank PLC. A graduate of Marist College, he spent the first 14 years of his career at the New York Mercantile Exchange, where he was Senior Director for Natural Gas Research. Mr. McElduff is scheduled to join ELX on Feb. 9, 2009.

"Dan's appointment underscores our commitment to maintaining the highest standards of market integrity," said Neal L. Wolkoff, Chief Executive Officer of ELX. "He brings our exchange extensive experience in all aspects of oversight and enforcement in futures trading."

Mr. Von Uffel joined ELX in December from Nomura Securities International where he was Managing Director, U.S. Interest Rate Trading, and Deputy Head of Fixed Income. Previously, he was Managing Director, Government Trading, for U.S. and Europe at Morgan Stanley. A graduate of the Wharton School of the University of Pennsylvania, he also served as Head of the Government Division of the Board of the Bond Market Association.

Ms. Ogulnick, who also joined ELX in December, has many years of experience with electronic trading systems. She has held officer-level responsibilities at the New York Mercantile Exchange, OnExchange and the American Stock Exchange. She holds a B.A. from Colby College and a Ph.D. in Theoretical Linguistics from the University of Connecticut.

"Kurt, with his knowledge of the fixed-income markets and his extensive industry relationships, brings a detailed understanding of the strengths and benefits of our alternative exchange for market participants," added Mr. Wolkoff. "Karen's breadth of expertise will be highly valuable as ELX deploys technology that we believe will set the standard for fast, efficient execution of electronic trades. I'm very pleased to have such accomplished, experienced industry executives as officers of ELX."

ELX's application to become a Designated Contract Market is currently under review by the Commodities Futures Trading Commission. ELX plans to offer trading in quarterly futures contracts on two- and five-year Treasury notes, the 30-year bond, and long-term Treasury notes.

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