News Release

CME Group Congratulates and Supports Obama Nominees Gensler, Schapiro

Fri Dec 19 2008

CHICAGO, Dec. 19 /PRNewswire-FirstCall/ -- CME Group released the following statement on President-Elect Barack Obama's nominees Gary Gensler, for chairman of the Commodity Futures Trading Commission (CFTC), and Mary Schapiro, for chairwoman of the Securities and Exchange Commission (SEC):

"We congratulate Mr. Gensler and Ms. Schapiro and support their nominations. Mr. Gensler's experience and understanding of commodity and financial markets, as well as his roles as Undersecretary of the Treasury and Assistant Secretary of the Treasury, make him an excellent candidate to oversee the futures markets.

We operate in a highly functional regulatory framework that was greatly enhanced by the Commodity Futures Modernization Act of 2000. Our markets have functioned extremely well during these difficult market conditions by providing full transparency of all trading activity and market prices, deep liquidity that allows investors to continue their hedging and risk management activities, and by continuing to ensure the performance of all contracts between buyers and sellers that trade on our exchanges. 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.

With Ms. Schapiro's experience at both CFTC and SEC, she will help ensure effective coordination between the two agencies. Her thorough knowledge of the securities and futures industries will allow her to provide guidance and oversight to these diverse markets. When confirmed, we look forward to working with them both in their new roles."

CME Group ( 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 $7 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 and E-mini, 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, New York Mercantile Exchange, and ClearPort 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



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