New York (PRWEB) May 11, 2005
The company expects to file an application shortly with the Commodity Futures Trading Commission ("CFTC") to register its US subsidiary as a Designated Contract Market (DCM) and Derivatives Clearing Organization (DCO) as well as gain approval of it's exchange rule book.
The company believes that offering trading and clearing services for it's innovative contracts on a regulated platform will allow members to manage certain financial risks that are currently not provided for on traditional futures exchanges.
Subject to regulatory approval, the company's US subsidiary will offer its members an efficient, scalable, high speed electronic platform to trade cash settled, binary options on such subjects as weather, economic indicators and financial indices.
"Naturally we're very excited about the prospect of offering our unique contracts on a regulated platform. We've always believed that regulation was an important step in our growth and essential for traders to participate in our exchange, said John Delaney, CEO, Trade Exchange Network Limited.
For more information please contact the Communications Director at [email protected]
Trade Exchange Network Ltd.
10b Park West Business Park
T: + 353 1 6200 - 300
F: + 353 1 6200 - 396
# # #