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ELX Futures appoints new CEO

ELX Futures, an electronic futures exchange, has appointed Richard Jaycobs as its new CEO.

With 25 years of futures and derivatives industry experience, Jaycobs has served as president of the Cantor Exchange, a CFTC-regulated exchange.

Prior to Cantor, Jaycobs was CEO of the Chicago-based Clearing Corporation (formerly the Board of Trade Clearing Corporation), CEO of onExchange, and managing director at the New York Cotton Exchange.

Jaycobs said that ELX has firmly established a liquid market and a diverse customer base for interest rate futures, and states that there is a challenge and opportunity to continue offering futures market participants a compelling fee structure, superior services and robust technology.

ELX Futures was launched in July 2009 by financial institutions, dealers, trading firms and a major electronic and voice broker and technology provider.

These include Bank of America Merrill Lynch, BGC Partners, Barclays Capital, Breakwater/Peak6, Deutsche Bank, Citi, Morgan Stanley, Goldman Sachs, Credit Suisse, RBS, JP Morgan, and Getco.