Designated Contract Markets (DCM)

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Organization Status Date Remarks Documents
Nodal Exchange, LLC Designated 09/27/2013 Nodal Exchange, LLC trades financially settled power contracts, including (1) locational marginal pricing (energy, loss, and congestion) or any component of locational marginal pricing of electricity at hubs, zones and nodes in the United States and Canada and (2) natural gas at Henry Hub. Clearing services are provided by Nodal Clear. Nodal Exchange, LLC was previously operating as an Exempt Commercial Market ("ECM") as of April 2009. Nodal Exchange submitted an application for DCM registration on October 11, 2012 and was designated as a DCM on September 27, 2013. 12
North American Derivatives Exchange, Inc. Designated 02/18/2004 The DCM was originally designated in 2004 for non-intermediated trading under the name HedgeStreet, Inc., before later being acquired by IG Group and changing its name to the North American Derivatives Exchange, Inc. (NADEX) in June 2009. On March 30, 2010, the Commission amended the Order of Designation to allow trading on NADEX both through FCMs as well as on a non-intermediated basis. NADEX was acquired by Foris DAX Markets, Inc. in March 2022 and the DCM now also does business under the name of Crypto.com. 4
NQLX LLC Futures Exchange Vacated 10/19/2010 On June 16, 2010, NYSE Euronext, the ultimate parent of NQLX requested that the status of NQLX as a designated contract market be vacated and set aside by the CFTC. Comments with respect to this request were due by August 6, 2010. NQLX was originally designated as a DCM in August 2001. On July 1, 2005, it met the definition of a "dormant" DCM and since that time has remained inactive. NQLX was merged into LIFFE Ventures in late 2010. 1
NYSE Liffe US, LLC Vacated 07/01/2014 NYSE Liffe trades precious metals. NYSE Liffe uses the LIFFE CONNECT trading system, regulatory services are provided by NFA, and clearing is provided by OCC. NYSE Liffe was vacated on July 1, 2014. 10
Omaha Grain Exchange Vacated 02/07/1937 Founded in 1904, the Omaha (NE) Grain Exchange was primarily a cash grain market, but made several unsuccessful attempts to trade futures contracts. Originally Designated on 5/22/1930. Vacated on 2/7/1937. 2
OneChicago LLC Vacated 12/21/2020 OneChicago LLC listed for trading security futures products and was owned primarily by Interactive Brokers Group, LLC, CBOE, and CME. 3
onExchange Board of Trade, Inc. Dormant 01/01/2004 onExchange Board of Trade (ONXBOT) was designated as a DCM on December 22, 2000. The original business plan was for an internet based electronic exchange, but ONXBOT has never commenced trading. 0
Pacific Commodity Exchange Vacated 05/04/1977 The Pacific Commodity Exchange (PCE) was located in San Francisco, CA. It traded coconut oil, palm oil and several metals. The PCEs contract market designation was revoked as the result of a settlement with the CFTC, after PCE had been charged with failing to enforce its rules. 1
Pacific Futures Exchange Vacated 04/21/2008 On January 17, 2008, the Pacific Futures Exchange ( PFE) requested that the CFTC vacate PFEs contract market designation as of April 21, 2008. PFE has not been operational since PFE was orginally designated as a contract market on July 22, 1986. PFEs contract market designation was vacated, effective April 21, 2008. 1
Portland Grain Exchange Vacated 04/21/1975 Located in Portland, OR, the exchanges last trade occurred in 1942. Originally Designated on 4/30/1929. The exchange designation was never formally vacated but the exchange was not active on April 21, 1975 , the effective date of the CFTC Act of 1974 when the CFTC commenced operations. The CFTC carried over those contract market designations that were active in 1975 and for which the exchange applied for continuing contract market designation; all existing designations for inactive exchanges were effectively vacated as of 4/21/1975. 1
QCX LLC Pending 06/16/2022 6
Railbird Exchange, LLC Pending 01/10/2023 7
San Francisco Grain Exchange Vacated 04/21/1975 Originally designated as the San Francisco Chamber of Commerce in 1922 following passage of the Grain Futures Act which required grain exchanges to be designated as contract markets. It later was designated as the San Francisco Grain Exchange on February 28, 1938. The last trade occurred in 1940. The exchange designation was never formally vacated but the exchange was not active on April 21, 1975 , the effective date of the CFTC Act of 1974 when the CFTC commenced operations. The CFTC carried over those contract market designations that were active in 1975 and for which the exchange applied for continuing contract market designation; all existing designations for inactive exchanges were effectively vacated as of 4/21/1975. 2
Seattle Grain Exchange Vacated 04/21/1975 The last futures trade occurred in 1959. Originally Designated on 1/29/1926. The exchange designation was never formally vacated but the exchange was not active on April 21, 1975 , the effective date of the CFTC Act of 1974 when the CFTC commenced operations. The CFTC carried over those contract market designations that were active in 1975 and for which the exchange applied for continuing contract market designation; all existing designations for inactive exchanges were effectively vacated as of 4/21/1975. 0
Small Exchange, Inc. Designated 03/10/2020 . 12
The Environmental Exchange Pending 04/20/2023 8
The Trend Exchange, Inc. Dormant 05/01/2013 The Trend Exchange, Inc. was originally designated as a DCM on April 16, 2010 under the name Media Derivatives, Inc. which initially intended to list binary options on motion picture revenues as well as other media-related products. No trading has occurred on the exchange and it became dormant under the definition of dormant contract market in Commission Regulation 40.1(c) on May 1, 2013. 28
trueEX LLC Dormant 11/01/2019 trueEX LLC intends to list interest rate swaps as its initial contracts. Regulatory services for trueEX LLC will be provided by NFA. Clearing services will be provided by the CME. The 180-day review period under section 6 of the CEA was stayed on 4/9/2012. The stay was subsequently lifted on June 7, 2012. 10
Twin Cities Board of Trade Dormant 01/01/2004 The Twin Cities Board of Trade (TCBT) currently is not operational. The only authorized contract was the British Pound/Deutsche Mark Cross Rate future, for which trading was never initiated. 0
U.S Futures Exchange, L.L.C. Dormant 01/01/2010 The U.S. Futures Exchange (USFE, but originally known as Eurex US) is owned approximately 67% by Man Group USA Inc., a New York Corporation, approximately 29% by U.S. Exchange Holdings, Inc., a Delaware corporation that is a separately capitalized wholly-owned subsidiary of Eurex Frankfurt, AG, and approximately 4% by Exchange Place Holdings, L.P., a Delaware limited partnership. USFE ceased exchange operations effective 12/31/08; as of 01/01/10, USFE became dormant. 1