CME Group, the world's leading and most diverse derivatives marketplace, announced that its Chief Executive Officer, Craig Donohue will appear today before a joint CFTC-SEC Advisory Committee on Emerging Regulatory Issues related to market events of Thursday, May 6, 2010.
"We have reviewed the joint report by the CFTC and SEC and we commend the agencies for their careful and thoughtful review," said Chief Executive Officer, Craig Donohue. "After our own examination, we believe our Stop Logic functionality provided the opportunity on May 6 to source needed liquidity at a crucial time, and we think a comprehensive, coordinated and quantitative review of the market-wide circuit breaker levels and duration of pause should be undertaken across all market centers and trading venues supporting equity based products, including cash equities, single name and index options, single stock futures, index futures and options on index futures, and total return swaps and structured products."
The hearing is scheduled for 1 p.m. Eastern time Tuesday at the SEC headquarters in Washington DC will be available as a webcast on the SEC's website. Mr. Donohue's testimony will be available at www.cmegroup.mediaroom.com.