CME Group's Duffy To Appear At The Senate Banking Subcommittee On Securities, Insurance, And Investment

CME Group, the world's leading and most diverse derivatives marketplace, announced that CME Group Executive Chairman Terry Duffy will appear before the U.S. Senate Banking, Housing and Urban Affairs Subcommittee on Securities, Insurance, and Investment today to discuss the market events of Thursday, May 6.

"We support the efforts of the CFTC and SEC and look forward to working with them on establishing an appropriate and clearly defined rule set which is transparent to market participants and consistent across all markets," said Terry Duffy, CME Group Executive Chairman. "While our futures markets functioned properly on May 6, we are confident our recommendations, including harmonized circuit breakers across securities markets, adoption of stop logic across all futures and equity markets, and the re-evaluation of existing circuit breakers, would improve the efficiency of the markets during times of severe stress."

The hearing is scheduled for 9:30 a.m. Eastern time in the Dirksen Senate Office Building. Mr. Duffy's written testimony also will be available on the CME Group Web site, www.cmegroup.com, at that time.