NGX Receives Foreign Board of Trade Status Approval from the CFTC CALGARY, May 2, 2013 /CNW/ - Natural Gas Exchange Inc. (NGX), a wholly-owned subsidiary of TMX Group, today announced that its application to become registered as a foreign board of trade (FBOT) has received approval from the U.S. Commodity Futures Trading Commission (CFTC). The FBOT registration replaces NGX's exempt commercial market status, which was eliminated by the enactment of the Dodd-Frank Act. "NGX is very pleased to have received this approval because the FBOT status ensures that we are able to continue to provide direct participation in our markets by our U.S. participants," said Jim Oosterbaan, President, NGX. "TMX Group welcomes this historic approval," added Tom Kloet, CEO, TMX Group. "We are appreciative of the CFTC Commission and staff's prompt and diligent consideration of this, the first application submitted under the new Dodd Frank FBOT regime." The new FBOT status recognizes NGX's comparable domestic regulatory regime and oversight as it relates to trading in NGX markets, which supports efficient cross-border regulation. The change does not directly impact NGX's clients. NGX will continue to clear contracts as a Derivatives Clearing Organization. NGX provides exchange, delivery, clearing and settlement services to over 250 energy trading customers in North America. In 2008, NGX launched an alliance with IntercontinentalExchange Inc. (ICE) whereby NGX uses ICE front-end trading technology. NGX currently offers products and clearing services at over 65 natural gas, crude oil and power locations in North America. For more information on the FBOT status and on U.S. classification of NGX products please visit www.ngx.com. About TMX Group (TSX:X) TMX Group's key subsidiaries operate cash and derivative markets and clearinghouses for multiple asset classes including equities, fixed income and energy. Toronto Stock Exchange, TSX Venture Exchange, TMX Select, Alpha Group, The Canadian Depository for Securities, Montreal Exchange, Canadian Derivatives Clearing Corporation, Natural Gas Exchange, BOX Options Exchange, Shorcan, Shorcan Energy Brokers, Equicom and other TMX Group companies provide listing markets, trading markets, clearing facilities, depository services, data products and other services to the global financial community. TMX Group is headquartered in Toronto and operates offices across Canada (Montreal, Calgary and Vancouver), in key U.S. markets (New York, Houston, Boston and Chicago) as well as in London, Beijing and Sydney. For more information about TMX Group, visit our website at www.tmx.com. Follow TMX Group on Twitter at http://twitter.com/tmxgroup. Carolyn Quick Director, Communications and Public Affairs TMX Group 416-947-4597 firstname.lastname@example.org SOURCE: TMX Group Inc. To view this news release in HTML formatting, please use the following URL: http://www.newswire.ca/en/releases/archive/May2013/02/c3166.html CO: TMX Group Inc. ST: Alberta NI: FIN -0- May/02/2013 21:30 GMT
NGX Receives Foreign Board of Trade Status Approval from the CFTC
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