ELX Futures (ELX), the electronic futures exchange launched in 2009, has named Richard Jaycobs as CEO, replacing current CEO Neal Wolkoff.
Jaycobs most recently was president of the Cantor Exchange, a CFTC-regulated exchange covering entertainment, weather and news events. Previously, he 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.
ELX has firmly established a liquid market and a diverse customer base for interest rate futures, and I am excited about the challenge and opportunity to continue offering futures market participants a compelling fee structure, superior services and robust technology, Jaycobs says.
ELX currently offers U.S. Treasury Futures (two-, five- and ten-year notes as well as 30-year and ultra long-term bonds) and eurodollar futures. The exchange enables market arbitrage, both outright and spread execution, and cash/futures basis trading through multiple front ends with an ultra-fast matching engine.
Founding firms of the exchange include Bank of America Merrill Lynch, BGC Partners, Barclays Capital, Breakwater/Peak6, Deutsche Bank, Citi, Morgan Stanley, Goldman Sachs, Credit Suisse, RBS, J.P. Morgan, and Getco.
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