"The bill introduced by Senator Lugar and co-sponsored by Senators Phil Gramm (R-TX) and Peter Fitzgerald (R-IL) moves us significantly closer to an equitable regulatory environment that allows U.S. futures exchanges to compete on a level playing field. For too long, financial service regulations have been outmoded -failing to reflect the changing dynamics of the industry. This legislation provides a comprehensive approach to the inter-related goals of modernizing exchange regulation, reforming the Shad-Johnson Accord in order to end the ban on single-stock futures and establishing legal certainty for the OTC markets."
"Senator Lugar understands the competitive consequence of over-regulation of U.S. futures markets in the era of growing international electronic exchanges and explosive growth in OTC derivatives markets. This forward-looking legislation recognizes that the time is now to modernize the rules that have impeded our growth for so long."
"Our exchanges will continue to work closely with Senator Lugar and his counterpart, Congressman Tom Ewing (R-IL) in the House of Representatives, who introduced similar legislation recently, and other congressional members, to ensure that all of the fundamental principles of this bill are enacted into law this year."
