CHICAGO, May 20 /PRNewswire-FirstCall/ -- CME Group, the
world's leading and most diverse derivatives marketplace, announced
that CME Group Executive Chairman Terry
Duffy will appear before the U.S. Senate Banking, Housing
and Urban Affairs Subcommittee on Securities, Insurance, and
Investment today to discuss the market events of Thursday, May 6.
"We support the efforts of the CFTC and SEC and look forward to
working with them on establishing an appropriate and clearly
defined rule set which is transparent to market participants and
consistent across all markets," said Terry
Duffy, CME Group Executive Chairman. "While our futures
markets functioned properly on May 6,
we are confident our recommendations, including harmonized circuit
breakers across securities markets, adoption of stop logic across
all futures and equity markets, and the re-evaluation of existing
circuit breakers, would improve the efficiency of the markets
during times of severe stress."
The hearing is scheduled for 9:30 a.m.
Eastern time in the Dirksen Senate Office Building. Mr.
Duffy's written testimony also will be available on the CME Group
Web site, www.cmegroup.com, at that time.
As the world's leading and most diverse derivatives marketplace,
CME Group (www.cmegroup.com) is where the world comes to manage
risk. CME Group exchanges offer the widest range of global
benchmark products across all major asset classes, including
futures and options based on interest rates, equity indexes,
foreign exchange, energy, agricultural commodities, metals, weather
and real estate. CME Group brings buyers and sellers together
through its CME Globex electronic trading platform and its trading
facilities in New York and
Chicago. CME Group also operates
CME Clearing, one of the largest central counterparty clearing
services in the world, which provides clearing and settlement
services for exchange-traded contracts, as well as for
over-the-counter derivatives transactions through CME ClearPort.
These products and services ensure that businesses everywhere can
substantially mitigate counterparty credit risk in both listed and
over-the-counter derivatives markets.
The Globe logo, CME, Chicago Mercantile Exchange, CME Group,
Globex, E-mini and CME ClearPort are trademarks of Chicago
Mercantile Exchange Inc. CBOT and Chicago Board of Trade are trademarks of the
Board of Trade of the City of
Chicago. NYMEX and New York Mercantile Exchange are
trademarks of New York Mercantile Exchange, Inc. COMEX is a
trademark of Commodity Exchange, Inc. All other trademarks are the
property of their respective owners. Further information about CME
Group (Nasdaq: CME) and its products can be found at
www.cmegroup.com.
CME-G
SOURCE CME Group