ELX sets it sights on European expansion
ELX Futures, L.P. (ELX), a leading electronic futures exchange, announced today that it will move forward with launch plans to trade competitive interest-rate products from NYSE Liffe and Eurex using the maker-taker and taker-maker pricing models, bringing enhanced technology, competitive pricing and market structure innovation to challenge an expanding monopoly structure.
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Neal Wolkoff, Chief Executive Officer of ELX Futures, said, "ELX was created to challenge monopolies, high prices and a lack of effective innovation in the futures industry. Our expansion into Europe is another bold move by ELX to launch competitive pricing, establish an additional European presence, and bring innovation to the global futures marketplace. In addition, ELX will introduce the maker-taker and taker-maker pricing models to give liquidity providers incentives to trade. This is a very exciting time at ELX and we look forward to implementing new initiatives to grow our business and provide market participants with more competition and alternatives."
ELX's technology provider, BGC Partners, has a strong European presence, the technological infrastructure and well-developed connectivity in place in Europe for ELX to move forward with its plans and focus on a seamless and successful launch of trading these new interest-rate products.