SOURCE: ELX Futures, L.P.

ELX Futures, L.P.

May 17, 2010 10:02 ET

ELX Futures Releases Simple Two-Tier Fee Schedule for Eurodollar Futures Contracts

ELX Futures to Launch Eurodollar Futures on June 18, 2010; Fees Will Be Waived Until July 1, 2010

NEW YORK, NY--(Marketwire - May 17, 2010) - ELX Futures, L.P. (ELX Futures), a fully electronic futures exchange, announced today that it has released its simplified two-tier fee schedule, including exchange and clearing fees, at lower prices than most available fees. ELX will launch its Eurodollar Futures contract on Friday, June 18, 2010, and fees will be waived for market participants until July 1, 2010. The Eurodollar Futures contract will join ELX's suite of U.S. Treasury Futures products already trading.

ELX Futures will have a $0.18/contract bundled fee (clearing and exchange fees) for users with Average Daily Volume above 1,200 contracts. For low volume users at or below 1,200 contracts of Average Daily Volume, the bundled fee is $0.35/contract. ELX's Eurodollar Futures fee schedule will represent a reduction in costs for most market participants.

To support institutional trading needs and ensure that investors are able to execute large volume trades at a fair and reasonable price without creating undesirable volatility in the marketplace, ELX Futures will allow block trades to be submitted meeting the minimum quantity of 500 contracts.

Other advantages of the ELX Futures fee schedule are: (1) a simple no-cost registration process without traditional membership obligations; (2) operational simplicity of only two fee tiers and (3) no fee surcharges for block trades, EFRPs, errors or give-ups.

Neal Wolkoff, Chief Executive Officer of ELX Futures, said, "ELX Futures is pleased to introduce its simple, two-tier Eurodollar Futures fee schedule that will provide a cost savings for most users. Offering state-of-the-art technology and turnaround times below 5 milliseconds, ELX is determined to drive competition and diversity in a consolidated environment of interest rate futures trading."

About ELX Futures
ELX Futures, L.P. is a fully electronic alternative exchange founded by leading global financial institutions with the goal of bringing the benefits of enhanced speed, liquidity and cost-efficiency to all market participants. For information and news about ELX, visit www.elxfutures.com or email us at info@elxfutures.com.

Contact Information

  • Media Contact:
    Mary Chung
    ELX Futures, L.P.
    (212) 294-7734
    Email Contact