CME Group's Duffy to Appear at the House Agriculture Subcommittee on Farm Commodities and Risk Management

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Dec 15, 2010, 08:30 ET

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.

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