When I spoke with ELX CEO Neal Wolkoff in an interview in October about his appointment to ELX, I asked him about the hold up in the new exchange actually starting to trade products. He said “We don’t feel it benefits us or the market to be performing on reality TV, so [launch preparations are] not being done in a public way, but [they're] being done.” Now all of the behind the scenes work has come to fruition as ELX has set a launch date for live trading. Futures trading in Treasury securities on ELX scheduled to begin in June, subject to CFTC approval.
It’s been a long journey for the exchange (and we’ve had fun poking fun at that journey here). ELX was born in December 2007, founded by several investment banks and hedge funds. It named itself in March 2008, appointed Wolkoff as its CEO last fall, and added additional staff and a Web site in the first part of 2009. And in June the upstart exchange will officially be in the mix.
Tags: ELX
