CME Group Congratulates New CFTC Chairman Gensler
May 19 2009 - 3:40PM
PR Newswire (US)
CHICAGO, May 19 /PRNewswire-FirstCall/ -- CME Group released the
following statement on the confirmation of Gary Gensler as the new
chairman of the Commodity Futures Trading Commission (CFTC): "We
congratulate Mr. Gensler on his appointment to head the CFTC. Mr.
Gensler's depth of experience and knowledge make him well qualified
for the Chairmanship of the Commission. We look forward to working
with Mr. Gensler to ensure that our U.S. futures and options
markets remain at the forefront of our industry in terms of low
transaction costs for market users, superior technology solutions,
leading customer protection programs, and safety and soundness in
the clearing and settlement of transactions. We also intend to work
with Mr. Gensler to ensure that legislators and regulators
understand the critical importance of hedging and risk-transfer
markets to our global economy; the globally competitive nature of
futures, options and derivative markets; and the risk that these
important markets can be injured by the adoption of misguided
regulations and tax policies. CME Group operates at the highest
tier of regulation under the CFTC. Working with the CFTC as our
regulator, CME Group markets have functioned extremely well during
these difficult economic conditions. CME Group has never
experienced a default in more than 110 years and no customer has
ever lost money as a result of a clearing member default. Most
importantly, CME Group ensures the performance of all contracts
between buyers and sellers that trade on our exchanges." CME Group
(http://www.cmegroup.com/) is the world's largest and most diverse
derivatives exchange. Building on the heritage of CME, CBOT and
NYMEX, CME Group serves the risk management needs of customers
around the globe. As an international marketplace, CME Group brings
buyers and sellers together on the CME Globex electronic trading
platform and on trading floors in Chicago and New York. CME
Clearing is designed to eliminate counterparty credit risk by
acting as the buyer to every seller and the seller to every buyer.
CME Clearing also offers financial safeguards to help mitigate
systemic risk, providing the security and confidence market
participants need to operate, invest and grow. CME Group offers the
widest range of benchmark products available across all major asset
classes, including futures and options based on interest rates,
equity indexes, foreign exchange, energy, agricultural commodities,
metals, and alternative investment products such as weather and
real estate. CME Group is listed on NASDAQ under the symbol "CME."
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 and its products can be found
at http://www.cmegroup.com/. CME-G DATASOURCE: CME Group CONTACT:
Media, Allan Schoenberg, +1-312-930-8189, or Mary Haffenberg,
+1-312-930-3435, or Michael Shore, +1-312-930-2363, , or Investors,
John Peschier, +1-312-930-8491, all of CME Group Web Site:
http://www.cme.com/
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