CME Group's Duffy to Appear at the Senate Banking Subcommittee on Securities, Insurance, and Investment
CHICAGO, May 20 /PRNewswire-FirstCall/ -- 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. Senate Banking, Housing and Urban Affairs Subcommittee on Securities, Insurance, and Investment today to discuss the market events of Thursday, May 6.
"We support the efforts of the CFTC and SEC and look forward to working with them on establishing an appropriate and clearly defined rule set which is transparent to market participants and consistent across all markets," said Terry Duffy, CME Group Executive Chairman. "While our futures markets functioned properly on May 6, we are confident our recommendations, including harmonized circuit breakers across securities markets, adoption of stop logic across all futures and equity markets, and the re-evaluation of existing circuit breakers, would improve the efficiency of the markets during times of severe stress."
The hearing is scheduled for 9:30 a.m. Eastern time in the Dirksen Senate Office Building. Mr. Duffy's written testimony also will be available on the CME Group Web site, 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 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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SOURCE CME Group
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