Newedge USA, LLC, with its membership in the Options Clearing Corporation (OCC), will become a Futures Commission Merchant (FCM) for ELX Futures, which will launch 10 July as a live platform to trade U.S. Treasury futures contracts.
ELX Futures received regulatory approval May 27 from the U.S. Commodity Futures Trading Commission (CFTC) to become a Designated Contract Market, with OCC as its clearinghouse. The initial suite of products will offer trading in U.S. Treasury futures contracts, with the intention of moving into other major asset classes.
As one of the top FCMs, with a diverse customer base trading across multiple asset classes, we are constantly seeking new opportunities for our clients. We have received significant interest in ELX Futures and are delighted that we are prepared to add ELX Futures to the more than 85 futures, options and equities exchanges on which we offer clearing and execution services, says Marc Schultz, CEO of Newedge Americas.
“We are pleased to announce our partnership with Newedge, which has enormous presence with institutional investors as well as hedge funds/CTAs, professional trading groups and corporate clients. This is an exciting time for ELX Futures as we prepare to compete aggressively as a new alternative in the futures marketplace. Newedge brings a powerful customer base and synergies that ELX Futures will have in place for our July 10 launch,” says Neal Wolkoff, chief executive officer of ELX Futures.
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