Chicago Board Of Trade And Chicago Mercantile Exchange Statement On House Passing Commodity Futures Modernization Act

The Chicago Board of Trade (CBOT®) and Chicago Mercantile Exchange (CME) today provided the following joint statement in response to yesterday’s passage by the U.S. House of Representatives of The Commodity Futures Modernization Act of 2000. The legislation is designed to modernize the laws governing futures exchanges, provide legal certainty to over-the-counter transactions and lift the ban on single stock futures. The bill now goes before the Senate.

“We are pleased that the House acted so overwhelmingly to pass this legislation after so long and arduous an effort, and we hope that the Senate will follow suit next week. Single stock futures are vital for futures exchanges to compete effectively in the global marketplace.

“In particular, we appreciate the efforts of U.S. Representative Thomas Ewing (R-IL), chief sponsor of the bill, and House Speaker Dennis Hastert, who were instrumental in securing passage of this bill.”