23 September 2017
Find out more

ELX Futures gets CFTC approval ahead of June launch

28 May 2009  |  1768 views  |  0 Source: ELX Futures

ELX Futures, a new fully electronic futures exchange, announced today that the U.S. Commodity Futures Trading Commission (CFTC) has approved its application to become a Designated Contract Market (DCM).

The application was filed November 27, 2008, and was approved within the regular statutory timeframe.

Neal Wolkoff, Chief Executive Officer of ELX Futures, said, "Receiving CFTC approval marks a watershed moment for ELX Futures. The approval culminates a great deal of dedication from our founding firms, the ELX Futures Operating Committee, our staff, the BGC Partners' technology team and our legal advisers at Sullivan & Cromwell. We would like to thank the staff of the CFTC for their diligence and rigor in helping us make the ELX Futures product much improved from its original state. We are confident that ELX Futures will be a strong and needed competitive alternative in the mainstream futures exchange marketplace that will benefit all market participants."

ELX Futures is in the midst of intensive testing and plans to announce a launch date, fee schedule, and other important facts about its start of business in the coming days. ELX Futures is still on target for a June 2009 start of operations with an initial product slate in U.S. Treasury futures contracts.

ELX Futures was founded by leading financial institutions that include Bank of America, Barclays Capital, BGC Partners, Breakwater, Citi, Credit Suisse, Deutsche Bank Securities, GETCO, JPMorgan, Merrill Lynch, PEAK6, and The Royal Bank of Scotland.

Comments: (0)

Comment on this story (membership required)

Related blogs

Create a blog about this story (membership required)
visit www.temenos.comvisit www.vasco.comvisit www.sibos.com

Top topics

Most viewed Most shared
HSBC switches on selfie payments in ChinaHSBC switches on selfie payments in China
13103 views comments | 27 tweets | 42 linkedin
AXA launches blockchain to cover late flight compensationAXA launches blockchain to cover late flig...
9156 views comments | 13 tweets | 27 linkedin
Apple P2P payments service nears launchApple P2P payments service nears launch
8464 views comments | 19 tweets | 27 linkedin
SBI Ripple Asia advances on South KoreaSBI Ripple Asia advances on South Korea
8094 views comments | 16 tweets | 1 linkedin
European Commission makes fintech a priority in supervisory shakeupEuropean Commission makes fintech a priori...
7870 views comments | 31 tweets | 45 linkedin

Featured job

Competitive base, double ote, benefits
London, UK

Find your next job