CHICAGO, Dec. 15, 2010 /PRNewswire/ -- 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. House Agriculture
Subcommittee on General Farm Commodities and Risk Management today
to discuss the implementation of position limits in the derivatives
market, a major provision in the Dodd-Frank Act.
"CME Group supports measures that maintain market transparency,
fairness and accessibility," said Terry
Duffy, CME Group Executive Chairman. "We are committed
to working with the CFTC as it gathers critical data regarding swap
markets and individual swap positions. We feel it is
important that the CFTC have this data so that it can make
informed decisions as to whether and what position limits are
necessary to prevent excessive speculation as defined by the
CEA. It is essential that any position limits imposed by the
CFTC cover OTC markets simultaneously with the regulated, listed
markets, in accordance with Dodd-Frank."
The hearing is scheduled for 10:00 a.m.
Eastern time in the Longworth House Office Building. Mr.
Duffy's written testimony also will be available 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