CHICAGO, April 11, 2011 /PRNewswire/ -- CME Group, the
world's leading and most diverse derivatives marketplace, announced
that Executive Chairman Terry Duffy
will appear before the U.S. Senate Committee on Banking, Housing
and Urban Affairs, Tuesday, April 12,
to discuss oversight of Title VII of the Dodd-Frank Act.
"We support the goals of the Dodd-Frank Act, but we are
concerned that the CFTC has launched an initiative that will make
it more difficult to reach the Act's goal of increasing
transparency and limiting risk," said Duffy. "Expanding the
Commission's mandate to impose regulations that are uncalled for by
the Act or that duplicate the duties now being performed by
exchanges and the National Futures Association will undermine the
goals of the Act and impose unknown costs on the markets.
These needless regulatory obstacles will have an indirect
impact on business, and drive capital and jobs to our competitors
overseas. Congress should encourage a full and fair
cost-and-benefit analysis of every proposal in the Act."
The hearing is scheduled for 2:45 p.m.
Eastern time in the Dirksen Senate Office Building. Duffy's
written testimony also will be available on 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 world's leading central
counterparty clearing provider in the world, which offers 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.
CME Group is a trademark of CME Group Inc. The Globe Logo, CME,
Globex and Chicago Mercantile Exchange are trademarks of Chicago
Mercantile Exchange Inc. CBOT and the Chicago Board of Trade are trademarks of the
Board of Trade of the City of
Chicago, Inc. NYMEX, New York Mercantile Exchange and
ClearPort are registered 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.
CME-G
SOURCE CME Group