SOURCE: ELX Futures, L.P.
July 30, 2010 09:06 ET
ELX Futures Announces New 18-Cents One-Tier Fee Schedule for Eurodollar Futures Contracts
New 18-Cents Fee Schedule Begins August 1, 2010
NEW YORK, NY--(Marketwire - July 30, 2010) - ELX Futures, L.P. (ELX Futures), a fully electronic futures exchange, announced today a new 18-cents one-tier fee schedule*, including exchange and clearing fees, for its Eurodollar Futures contract effective August 1, 2010. ELX Futures will eliminate Average Daily Volume (ADV) requirements and will have an 18-cents/contract bundled fee for all users. The Eurodollar Futures contract recently joined ELX's suite of U.S. Treasury Futures products already trading.
Advantages of the ELX model are: (1) no ADV requirements; (2) simple no-cost registration process without traditional membership obligations; (3) operational simplicity of only one fee tier and (4) no fee surcharges for block trades, EFRPs, errors or give-ups.
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.
Neal Wolkoff, Chief Executive Officer of ELX Futures, said, "I am pleased to announce ELX's new one-tier fee schedule of 18 cents for our Eurodollar Futures contracts. The new fee schedule removes any ADV requirements and will provide cost savings for most users. ELX is constantly finding ways to improve pricing power for our market participants and to drive competition in a consolidated environment of interest rate futures trading."
*ELX reserves the right to change transaction fees on notice.
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.