Exempt Commercial Markets, 2003 – 2008
Table Of Contents
Electronic trading facilities that execute principal-to-principal transactions between eligible commercial entities in exempt commodities may operate as ECMs as set forth under the CEA and the Commission’s regulations. An ECM is subject to anti-fraud and anti-manipulation provisions and a requirement that, if performing a significant price discovery function, the ECM must provide pricing information to the public. A facility that elects to operate as an ECM must give notice to the Commission and comply with certain information, record-keeping, and other requirements. An ECM is prohibited from claiming that the facility is registered with, or recognized, designated, licensed or approved by, the Commission. A total of 24 ECMs have filed notices with the Commission and 19 were active in FY 2008.
| Exempt Commercial Markets | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 |
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| CCX |  |
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| CDXchange | |
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| ChemConnect | |
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| EOXLIVE | |
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| Flett | |
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| GFI (Energy Match) | |
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| HSE | |
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| ICAP | |
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| ICAP ETC | |
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| ICAP HYDE | |
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| ICE | |
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| IMAREX | |
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| LiquidityPort (Options ATS) | |
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| NGX | |
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| NEX | |
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| NTP | |
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| OPEX | |
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| Parity | |
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| SL | |
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| TCX | |
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| TFS | |
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| TFSE | |
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| TFSC | |
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| TS | |
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| TOTAL | 11 | 11 | 12 | 17 | 19 | 19 |