ELX names Richard Jaycobs CEO

Source: ELX Futures

ELX Futures, L.P. (ELX), a leading electronic futures exchange, announced today that veteran futures industry executive Richard Jaycobs will succeed Neal Wolkoff as Chief Executive Officer of ELX.

Mr. Jaycobs, a 25-year veteran of the futures and derivatives industry, has served as President of the Cantor Exchange, a CFTC-regulated exchange committed to providing the market with innovative products in entertainment, weather, and news events. Earlier, he served as CEO of the Chicago-based Clearing Corporation (formerly the Board of Trade Clearing Corporation), CEO of onExchange, and Managing Director at the New York Cotton Exchange.

ELX launched in July 2009 to establish a faster, more efficient, competitive alternative for global market participants trading future contracts. ELX's founding firms include leading financial institutions, dealers, trading firms and a major electronic and voice broker and technology provider: Bank of America Merrill Lynch, BGC Partners, Barclays Capital, Breakwater/Peak6, Deutsche Bank, Citi, Morgan Stanley, Goldman Sachs, Credit Suisse, RBS, J.P. Morgan, and Getco.

Using BGC Partners' proven eSpeed electronic trading platform, and focused on providing low-cost execution, competition and liquidity in the interest rate futures marketplace, ELX currently offers US Treasury Futures (2, 5, and 10-year notes and 30-year and ultra long-term bonds) and Eurodollar Futures. ELX enables market arbitrage, both outright and spread execution, and cash/futures basis trading through multiple front ends with an ultra-fast matching engine.

Mr. Jaycobs said, "ELX has firmly established a liquid market and a diverse customer base for interest rate futures, and I am excited about the challenge and opportunity to continue offering futures market participants a compelling fee structure, superior services and robust technology." 

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