Designated Contract Market Regulation - Comment Letter - ELX Futures - February 22, 2011
|Final Rule Issue||Effective Date||Compliance Date|
|June 19, 2012||August 20, 2012||October 17, 2012|
Core Principles and Other Requirements for Designated Contract Markets
February 22, 2011
From the comment letter:
"As a recently formed exchange, and one competing directly with the dominant CME Group, ELX is concerned that the proposed board composition standards will adversely affect ELX by making open access, third party clearinghouses (DCOs) reluctant to offer these necessary services to independent DCMs like ELX.
"Open access DCOs should be given strong consideration in the waiver process to avoid unnecessary intrusions into their governance structure, which is already well-regulated."