Business NewsMarketWire • ELX Futures: CFTC Issues Letter to CME Concerning Its "Unpersuasive" Justification for Prohibiting EFFs

ELX Futures: CFTC Issues Letter to CME Concerning Its "Unpersuasive" Justification for Prohibiting EFFs

ELX Futures: CFTC Issues Letter to CME Concerning Its "Unpersuasive" Justification for Prohibiting EFFs

NEW YORK, NY--(Marketwire - January 26, 2010) - ELX Futures, L.P. (ELX Futures), a new fully electronic futures exchange, received notification from the Commodity Futures Trading Commission (CFTC) staff that it had sent the CME Group a letter dated January 22, 2010 that it had "mischaracterized" the Commodity Exchange Act and found its arguments "unpersuasive" in informing market users in a self-certified market Regulatory Advisory notice issued October 19, 2009 that its rules do not permit the execution of the Exchange of Futures for Futures (EFF) Rule and users would be subject to disciplinary action.

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ELX Futures: CFTC Issues Letter to CME Concerning Its "Unpersuasive" Justification for Prohibiting EFFs