Futures sat down with ELX Futures CEO Neal Wolkoff a couple of weeks after the launch of ELX to discuss how ELX got out of the gate, what it must do to succeed and the regulatory landscape.
CFTC issued a letter to CME Group saying that ELX's exchange of futures for futures transactions are not wash sales and are consistent with commission precedent.
The CFTC disagreed with the CME Group interpretation of exchange of futures for futures (EFF) transactions and has asked them to justify not allowing such trades.
ELX submitted a request that the CFTC stay the rule interpretation by CME Group that could prevent CME clearing members from enacting Exchange of Futures for Futures trades.
