Media Contact: Mary Chung
ELX Futures, L.P.
(212) 294-7734 / firstname.lastname@example.org
ELX FUTURES LAUNCHES EURODOLLAR FUTURES CONTRACT
Trading Starts Today; Fees Will Be Waived Until July 1, 2010
New York, June 18, 2010 – ELX Futures, L.P. (ELX Futures), a fully electronic futures exchange, announced today that it has launched its Eurodollar Futures contract. Fees associated with the new contract will be waived for market participants until July 1, 2010. The Eurodollar Futures contract joins ELX’s suite of U.S. Treasury Futures products already trading on the exchange. ELX offers state-of-the-art technology on the BGC Partners’ eSpeed platform with average turnaround times below five milliseconds.
Neal Wolkoff, Chief Executive Officer of ELX Futures, said, “The launch of our Eurodollar Futures contract is another milestone for ELX Futures. We’re proud to introduce a competing contract with a simple two-tier fee schedule that will provide a cost savings for most market participants as well as a consistently faster execution environment. ELX is continually striving to break new ground in the futures marketplace and to drive competition in a consolidated exchange environment of interest rate futures trading.”
ELX Futures will have a $0.18/contract bundled fee (clearing and exchange fees) for users with Average Daily Volume above 1,200 contracts. For low volume users at or below 1,200 contracts of Average Daily Volume, the bundled fee is $0.35/contract.
To support institutional trading needs and ensure that investors are able to execute large volume trades at a fair and reasonable price without creating undesirable volatility in the marketplace, ELX Futures will allow block trades to be submitted meeting the minimum quantity of 500 contracts.
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 email@example.com.