CME Group's Duffy To Appear At The House Agriculture Subcommittee On Farm Commodities And Risk Management

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. House Agriculture Subcommittee on General Farm Commodities and Risk Management today to discuss the implementation of position limits in the derivatives market, a major provision in the Dodd-Frank Act.

"CME Group supports measures that maintain market transparency, fairness and accessibility," said Terry Duffy, CME Group Executive Chairman. "We are committed to working with the CFTC as it gathers critical data regarding swap markets and individual swap positions. We feel it is important that the CFTC have this data so that it can make informed decisions as to whether and what position limits are necessary to prevent excessive speculation as defined by the CEA. It is essential that any position limits imposed by the CFTC cover OTC markets simultaneously with the regulated, listed markets, in accordance with Dodd-Frank."

The hearing is scheduled for 10:00 a.m. Eastern time in the Longworth House Office Building. Mr. Duffy's written testimony also will be available at that time.