ELX Futures Receives CFTC Approval to Become a Designated Contract Market

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Wed May 27, 2009 11:40am EDT 

  NEW YORK, NY, May 27 (MARKET WIRE) -- 
ELX Futures, L.P. (ELX Futures), a new fully electronic futures exchange,
announced today that the U.S. Commodity Futures Trading Commission (CFTC)
has approved its application to become a Designated Contract Market
(DCM). The application was filed November 27, 2008, and was approved
within the regular statutory timeframe.

    Neal Wolkoff, Chief Executive Officer of ELX Futures, said, "Receiving
CFTC approval marks a watershed moment for ELX Futures. The approval
culminates a great deal of dedication from our founding firms, the ELX
Futures Operating Committee, our staff, the BGC Partners' technology team
and our legal advisers at Sullivan & Cromwell. We would like to thank the
staff of the CFTC for their diligence and rigor in helping us make the
ELX Futures product much improved from its original state. We are
confident that ELX Futures will be a strong and needed competitive
alternative in the mainstream futures exchange marketplace that will
benefit all market participants."

    ELX Futures is in the midst of intensive testing and plans to announce a
launch date, fee schedule, and other important facts about its start of
business in the coming days. ELX Futures is still on target for a June
2009 start of operations with an initial product slate in U.S. Treasury
futures contracts.

    ELX Futures was founded by leading financial institutions that include
Bank of America, Barclays Capital, BGC Partners, Breakwater, Citi, Credit
Suisse, Deutsche Bank Securities, GETCO, JPMorgan, Merrill Lynch, PEAK6,
and The Royal Bank of Scotland.

    About ELX Futures

    ELX Futures, L.P. is a fully electronic alternative exchange founded by
leading global financial institutions with the goal of bringing the
benefits of enhanced speed, liquidity and cost-efficiency to all market
participants. For information and news about ELX, visit www.elxfutures.com
or email us at info@elxfutures.com.

    

Media Contact:
Mary Chung
ELX Futures, L.P.
(212) 294-7734
mchung@elxfutures.com

Copyright 2009, Market Wire, All rights reserved.

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