News Release

CME Group's Duffy to Testify Before Congressional Committee on Proposed Changes to the Commodity Exchange Act

Tue Feb 03 2009

CHICAGO, Feb. 3 /PRNewswire-FirstCall/ -- CME Group, the world's largest and most diverse derivatives exchange, today announced that CME Group Executive Chairman Terry Duffy will appear before the U.S. House Committee on Agriculture Tuesday to discuss proposed changes to the Commodity Exchange Act.

 

"CME Group supports legislation that enhances enforcement capabilities of our market regulator, the Commodity Futures Trading Commission, as well as proposals that bring greater transparency and accountability to commodity markets," Duffy said. "However, it is essential to avoid any legislation that would constrain our already weakened market system, damage the competitiveness of U.S. markets, hurt consumers or result in less transparency."

 

The hearing is scheduled for 1:00 p.m. Eastern Standard Time Tuesday in the Longworth House Office Building. The testimony will be available at 1:00 p.m. Eastern time.

 

CME Group (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. By acting as the buyer to every seller and the seller to every buyer, CME Clearing virtually eliminates counterparty credit risk. CME Clearing also offers $8 billion in 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 www.cmegroup.com.

CME-G

SOURCE: CME Group

Web site: http://www.cme.com/

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