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Exempt Commercial Markets, 2004–2009


Table Of Contents

Electronic trading facilities providing for the execution of 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, 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 31 ECMs have filed notices with the Commission. In FY 2009, 27 ECMs were in business for at least part of the year; four however, withdrew their ECM notifications during the fiscal year.

Exempt Commercial Markets
ECMs1 2004 2005 2006 2007 2008 2009
Agora-X           Registered ECM in 2009.
CCX Registered ECM in 2004. Registered ECM in 2005. Registered ECM in 2006. Registered ECM in 2007. Registered ECM in 2008. Registered ECM in 2009.
CDXchange Registered ECM in 2004. Registered ECM in 2005. Registered ECM in 2006.      
ChemConnect     Registered ECM in 2006. Registered ECM in 2007.    
DFox           Registered ECM in 2009.2
EnergyCross.com           Registered ECM in 2009.
EOXLIVE         Registered ECM in 2008. Registered ECM in 2009.
FCRM           Registered ECM in 2009.
Flett       Registered ECM in 2007. Registered ECM in 2008. Registered ECM in 2009.2
GFI       Registered ECM in 2007. Registered ECM in 2008. Registered ECM in 2009.
HSE Registered ECM in 2004. Registered ECM in 2005. Registered ECM in 2006. Registered ECM in 2007. Registered ECM in 2008. Registered ECM in 2009.
ICAP     Registered ECM in 2006. Registered ECM in 2007. Registered ECM in 2008. Registered ECM in 2009.
ICAPture     Registered ECM in 2006. Registered ECM in 2007. Registered ECM in 2008. Registered ECM in 2009.
ICAP Shipping     Registered ECM in 2006. Registered ECM in 2007. Registered ECM in 2008. Registered ECM in 2009.
ICE Registered ECM in 2004. Registered ECM in 2005. Registered ECM in 2006. Registered ECM in 2007. Registered ECM in 2008. Registered ECM in 2009.
IMAREX Registered ECM in 2004. Registered ECM in 2005. Registered ECM in 2006. Registered ECM in 2007. Registered ECM in 2008. Registered ECM in 2009.
LiquidityPort       Registered ECM in 2007. Registered ECM in 2008. Registered ECM in 2009.
NGX Registered ECM in 2004. Registered ECM in 2005. Registered ECM in 2006. Registered ECM in 2007. Registered ECM in 2008. Registered ECM in 2009.
Nodal       Registered ECM in 2007. Registered ECM in 2008. Registered ECM in 2009.
NTP     Registered ECM in 2006. Registered ECM in 2007. Registered ECM in 2008. Registered ECM in 2009.
OILX           Registered ECM in 2009.
OPEX Registered ECM in 2004. Registered ECM in 2005. Registered ECM in 2006. Registered ECM in 2007. Registered ECM in 2008. Registered ECM in 2009.2
Parity         Registered ECM in 2008. Registered ECM in 2009.
SL Registered ECM in 2004. Registered ECM in 2005. Registered ECM in 2006. Registered ECM in 2007.    
TCX   Registered ECM in 2005. Registered ECM in 2006. Registered ECM in 2007. Registered ECM in 2008. Registered ECM in 2009.
TFSWeather Registered ECM in 2004. Registered ECM in 2005. Registered ECM in 2006. Registered ECM in 2007. Registered ECM in 2008. Registered ECM in 2009.
tpENERGYTRADE           Registered ECM in 2009.2
Tradition Coal.Com         Registered ECM in 2008. Registered ECM in 2009.
Trading Optx           Registered ECM in 2009.
TS Registered ECM in 2004. Registered ECM in 2005. Registered ECM in 2006.      
WORLDPULP Registered ECM in 2004. Registered ECM in 2005. Registered ECM in 2006. Registered ECM in 2007. Registered ECM in 2008. Registered ECM in 2009.
TOTAL 11 12 17 19 20 27
1 Full names of organizations are located in the CFTC Glossary of the PAR at http://www.cftc.gov/About/CFTCReports/index.htm. (back to text)
2 These ECMs withdrew their ECM notifications during FY 2009. (back to text)
Last Updated: March 19, 2010