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
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
SOURCE: TMX Group Inc.
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-0- May/02/2013 21:30 GMT
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