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U.S. regulators approve ELX’s futures rule change

Posted on 15 October 2009

From Reuters: ELX Futures LP, the upstart exchange hoping to challenge industry leader CME Group Inc (CME.O), said on Wednesday U.S. regulators approved its application to allow traders to move positions between two different clearinghouses.

The privately held exchange operator said the rule change, by the U.S. Commodity Futures Trading Commission, gives traders flexibility and enhances competition in the market for Treasury debt.Since it began in July, ELX has grabbed less than 5 percent of the U.S. market, long dominated by CME Group……………………Full Article: Source


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