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Exempt Commercial Markets, 2002 – 2007


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 exempt commercial markets (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 21 ECMs have filed notices with the Commission and 19 were active in FY 2007.

Exempt Commercial Markets, 2002 – 2007
Exempt Commercial Markets1 2002 2003 2004 2005 2006 2007
CCX   Registered ECM in 2003. Registered ECM in 2004. Registered ECM in 2005. Registered ECM in 2006. Registered ECM in 2007.
CDXchange Registered ECM in 2002. Registered ECM in 2003. Registered ECM in 2004. Registered ECM in 2005. Registered ECM in 2006.  
ChemConnect         Registered ECM in 2006. Registered ECM in 2007.
Flett           Registered ECM in 2007.
GFI           Registered ECM in 2007.
HSE Registered ECM in 2002. Registered ECM in 2003. Registered ECM in 2004. Registered ECM in 2005. Registered ECM in 2006. Registered ECM in 2007.
ICAP         Registered ECM in 2006. Registered ECM in 2007.
ICAP ETC         Registered ECM in 2006. Registered ECM in 2007.
ICAP HYDE         Registered ECM in 2006. Registered ECM in 2007.
ICE Registered ECM in 2002. Registered ECM in 2003. Registered ECM in 2004. Registered ECM in 2005. Registered ECM in 2006. Registered ECM in 2007.
IMAREX Registered ECM in 2002. Registered ECM in 2003. Registered ECM in 2004. Registered ECM in 2005. Registered ECM in 2006. Registered ECM in 2007.
NGX Registered ECM in 2002. Registered ECM in 2003. Registered ECM in 2004. Registered ECM in 2005. Registered ECM in 2006. Registered ECM in 2007.
Nodel           Registered ECM in 2007.
NTP         Registered ECM in 2006. Registered ECM in 2007.
OPEX Registered ECM in 2002. Registered ECM in 2003. Registered ECM in 2004. Registered ECM in 2005. Registered ECM in 2006. Registered ECM in 2007.
Options ATS           Registered ECM in 2007.
SL   Registered ECM in 2003. 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.
TFS   Registered ECM in 2003. Registered ECM in 2004. Registered ECM in 2005. Registered ECM in 2006. Registered ECM in 2007.
TFSE   Registered ECM in 2003. Registered ECM in 2004. Registered ECM in 2005. Registered ECM in 2006. Registered ECM in 2007.
TS Registered ECM in 2002. Registered ECM in 2003. Registered ECM in 2004. Registered ECM in 2005. Registered ECM in 2006.  
TOTAL 7 11 11 12 17 19
1For full names of ECMs, refer to the List of Acronyms. (back to text)