CHICAGO, July 25, 2012 /PRNewswire/ -- CME Group Executive Chairman and President Terry Duffy will appear before the House Committee on Agriculture today, Wednesday, July 25, to discuss "Oversight of the Swaps and Futures Markets: Recent Events and Impending Regulatory Reforms."
"We are committed to restoring confidence in the markets that so many rely on for their risk management needs," said Duffy. "Recent events have shaken the very core of the futures industry. Any breach of trust relating to customer funds is absolutely unacceptable. We continue to work with Congress, CFTC, NFA, FIA and market participants to re-evaluate the current system and to find solutions to safeguard customer funds against fraud and misuse."
The hearing is scheduled for 10 a.m. Eastern time in the Longworth House Office Building. Duffy's written testimony will also be available on www.cmegroup.com at that time.
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 for exchange-traded contracts, as well as for over-the-counter derivatives transactions through CME ClearPort®. These products and services ensure that businesses everywhere can substantially mitigate counterparty credit risk in both listed and over-the-counter derivatives markets.
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SOURCE CME Group