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Traders Magazine, October 2001

Editorial Staff

Stock Futures *Full-scale trading in single stock futures will be delayed, two House chairmen announced in a letter to regulators. The Commodities Futures Trading Commission had been pushing for retail trading of single stock futures by late December, but two House chairmen, in the letter noted that while they had looked forward to broad and deep markets for single stock futures on Dec. 21, "the events of Sept. 11 appear to have rendered this unlikely." Representative Michael Oxley, chairman of the House Financial Services Committee, and Representative Larry Combest, chairman of the House Agriculture Committee, wrote that "the destruction of trading floors, data processing facilities and communications infrastructure have required that many of America's largest and most important market participants divert substantial time and resources to rebuilding their systems." The letter was sent to the SEC and the CFTC.

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