CME Group’s Duffy to Appear before U.S. Senate Committee on Agriculture05.12.2014
CHICAGO, May 12, 2014 /PRNewswire/ — CME Group Executive Chairman and President Terry Duffy will appear before the U.S. Senate Committee on Agriculture, Nutrition & Forestry, Tuesday, May 13, to discuss high-frequency trading in the futures markets.
“Electronic trading has opened the markets in a fundamental way by increasing liquidity and tightening bid/ask spreads to the benefit of every global market participant,” said Duffy. “The market structure and multi-leveled protections in the futures markets strikes the right balance of regulating the market without inhibiting true price discovery. This balance of regulation and surveillance, liquidity and access, gives farmers and businesses, and money managers and traders, the confidence to rely on our markets to effectively manage risk.
“At CME Group we are always looking at ways to enhance and improve our markets. We support a continued dialogue about how the industry and regulators can enhance and improve the global derivative marketplace, including consideration of issues related to high frequency trading.”
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 world’s leading central counterparty clearing providers, which offers clearing and settlement services across asset classes for exchange-traded contracts and over-the-counter derivatives transactions. These products and services ensure that businesses everywhere can substantially mitigate counterparty credit risk.
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SOURCE CME Group