Showing posts with label CME Group's Terry Duffy to show up before the U.S. house panel on agribusiness to encourage the cancelation of a decades-old raw petroleum fare boycott. Show all posts
Showing posts with label CME Group's Terry Duffy to show up before the U.S. house panel on agribusiness to encourage the cancelation of a decades-old raw petroleum fare boycott. Show all posts

Tuesday, July 7, 2015

CME Group's Terry Duffy to show up before the U.S. house panel on agribusiness to encourage the cancelation of a decades-old raw petroleum fare boycott

CME Group's Terry Duffy to show up before the U.S. house panel on agribusiness to encourage the cancelation of a decades-old raw petroleum fare boycott

Tuesday, Jul 07, 2015

CME Group Executive Chairman and President Terry Duffy will show up before the U.S. House Committee on Agriculture on Wednesday, July 8, to talk about How Lifting the Oil Export Ban Impacts the Rural Economy and Futures Markets.

"In the 1970's, the U.S. government forced a boycott on the fare of raw petroleum that put our country's vitality makers at an aggressive disservice and hurt business sector productivity," said Duffy. "Revoking this decades-old boycott would reinforce the position of the U.S. as a vitality pioneer, advantage vitality advertises through more hearty value revelation, and advantage our economy by taking out unnecessary boundaries to exchange unrefined petroleum."

"The uplifting news is that Congress and the Administration have the devices to alter this and we are empowered by the developing bipartisan backing to annulment this obsolete arrangement. I praise Chairman Conaway and Ranking Member Peterson, and urge Congress and the Administration to nullify the boycott on unrefined petroleum fares and let the business sector choose."

As the world's driving and most different subsidiaries commercial center, CME Group (www.cmegroup.com) is the place the world comes to oversee hazard. CME Group trades offer the amplest scope of worldwide benchmark items over all significant resource classes, including fates and choices in view of interest rates, value lists, remote trade, vitality, rural wares, metals, climate and land. CME Group unites purchasers and merchants through its CME Globex® electronic exchanging stage, its exchanging offices in New York and Chicago, and through its London-based CME Europe subordinates trade. CME Group likewise works one of the world's driving focal counterparty clearing suppliers through CME Clearing and CME Clearing Europe, which offer clearing and settlement benefits crosswise over resource classes for trade exchanged contracts and over-the-counter subordinates exchanges. These items and administrations guarantee that organizations all over can significantly moderate counterparty credit hazard.

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