ELX Futures has officially launched its futures operation. The exchange now offers U.S. treasury futures contracts on its electronic platform. On July 1, Newedge USA, LLC, announced it would become a Futures Commission Merchant (FCM) for ELX Futures. On July 6, MF Global announced that it also would become an exchange participant and offer FCM services for ELX.
ELX will not charge for its trades in the month of July. Billing will begin August 3. ELX later intends to move into asset classes beyond treasury futures.
ELX was formed in December 2007 and is backed by a consortium of financial institutions.
