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.
SOURCE: TMX Group Inc.
For further information:
Director, Communications and Public Affairs