CFTC Approves New Designated Contract Market

The CFTC approved the application of IMX Health as a designated contract market ("DCM"). IMX Health stated that it will be the first financial futures exchange for the healthcare industry.

In the Order, the CFTC said that it approved the application after determining that the Company met the requirements of CEA Section 5a ("Designation of boards of trade as contract markets") and CFTC Rule 38.3(a) ("Procedures for designation"). IMX Health is the 17th DCM approved by the CFTC. Among other representations, IMX stated that it will utilize "an anonymous electronic central limit order book using a standard matching algorithm based upon price/time priority."

On its website, the company said that the exchange "will create a transparent, two sided market for pricing of health care assets, will provide hedging opportunities for payers and providers and other health care market participants and benefit patients through competition for services and through cushioning price shocks in the marketplace, leading to lower prices and premiums."