CME Group Executive Chairman and President Terry Duffy will appear before the U.S. Senate Committee on Agriculture, Nutrition & Forestry, Tuesday, May 13, to discuss high-frequency trading in the futures markets.
Electronic trading has opened the markets in a fundamental way by increasing liquidity and tightening bid/ask spreads to the benefit of every global market participant," said Duffy. "The market structure and multi-leveled protections in the futures markets strikes the right balance of regulating the market without inhibiting true price discovery. This balance of regulation and surveillance, liquidity and access, gives farmers and businesses, and money managers and traders, the confidence to rely on our markets to effectively manage risk.
"At CME Group we are always looking at ways to enhance and improve our markets. We support a continued dialogue about how the industry and regulators can enhance and improve the global derivative marketplace, including consideration of issues related to high frequency trading."
The hearing is scheduled for 10 a.m. Eastern time in the Russell Senate Office Building. Duffy's written testimony will be available on www.cmegroup.com at that time.