The Globex Trading System which was introduced in 1992, was the first global electronic trading system designed to handle both futures trading and options trading. It was developed by the Chicago Mercantile Exchange (CME)[1][2] along with other technology companies and it was designed to work with the existing open outcry system at the exchange to help improve efficiencies and extend the hours of trading. Today, Globex, or "CME Globex", offers trading approximately 23 hours a day, five days a week.[3]
Historyedit
In 1987 work began on the design of a new electronic system with the goal of enhancing futures trading at the CME. The system had gone through many iterations and enhancements throughout the next five years until 1992 when the first electronic futures trading began on the new system. When Globex was first launched, it ran on Reuters technology.[4][5] The system was also the first international electronic trading system to allow "off-hours trading in exchange contracts" [5] and because of this the system was known early on as a "Pre/Post Market Trading" system.[5]
System overviewedit
CME Globex is the first derivatives platform to offer global access to all major asset classes, equity indexes, agriculture, energy, metals, weather and real estate. Partnerships with other exchanges such as the Bursa Malaysia (BMD), Dubai Mercantile Exchange (DME), Korea Exchange (KRX), and the Minneapolis Grain Exchange (MGEX) provide access to market exposure around the world.
The CME Globex system was the first and today still remains one of the fastest[citation needed] global electronic trading systems for futures and options trading. "Trades on the system are executed and confirmed to the customer with millisecond precision".[5] Average daily order volume continues to increase, while the response time for trades continues to decrease.[citation needed]
CME Globex provides access to the broadest array of futures and options products available on any exchange, virtually around the clock, from anywhere in the world. "In 2007, roughly 14.5 percent of the exchange's options contracts were electronically traded".[5]
Referencesedit
^. The Economist. 26 May 1990. Archived from the original on 24 September 2018. Retrieved 24 September 2018.
^Davis, Stephen (1992-05-01), "Globex: Chicago's black box debuts. (screen-based electronic trading system of Chicago Mercantile Exchange and Chicago Board of Trade) (Tech Notes)", Institutional Investor, v26 (n6), Euromoney Trading Limited: 21(1), ISSN 0020-3580
^Norton, Leslie P., "An Exchange's Embarrassment of Riches", Barron's, 19, April 2010 .
^. The Economist. 21 May 1994. Archived from the original on 24 September 2018. Retrieved 24 September 2018.
^ abcde"CME Globex", MarketsWiki, 27 September 2017.
January 01, 1970
globex, trading, system, which, introduced, 1992, first, global, electronic, trading, system, designed, handle, both, futures, trading, options, trading, developed, chicago, mercantile, exchange, along, with, other, technology, companies, designed, work, with,. The Globex Trading System which was introduced in 1992 was the first global electronic trading system designed to handle both futures trading and options trading It was developed by the Chicago Mercantile Exchange CME 1 2 along with other technology companies and it was designed to work with the existing open outcry system at the exchange to help improve efficiencies and extend the hours of trading Today Globex or CME Globex offers trading approximately 23 hours a day five days a week 3 History editIn 1987 work began on the design of a new electronic system with the goal of enhancing futures trading at the CME The system had gone through many iterations and enhancements throughout the next five years until 1992 when the first electronic futures trading began on the new system When Globex was first launched it ran on Reuters technology 4 5 The system was also the first international electronic trading system to allow off hours trading in exchange contracts 5 and because of this the system was known early on as a Pre Post Market Trading system 5 System overview editCME Globex is the first derivatives platform to offer global access to all major asset classes equity indexes agriculture energy metals weather and real estate Partnerships with other exchanges such as the Bursa Malaysia BMD Dubai Mercantile Exchange DME Korea Exchange KRX and the Minneapolis Grain Exchange MGEX provide access to market exposure around the world The CME Globex system was the first and today still remains one of the fastest citation needed global electronic trading systems for futures and options trading Trades on the system are executed and confirmed to the customer with millisecond precision 5 Average daily order volume continues to increase while the response time for trades continues to decrease citation needed CME Globex provides access to the broadest array of futures and options products available on any exchange virtually around the clock from anywhere in the world In 2007 roughly 14 5 percent of the exchange s options contracts were electronically traded 5 References edit Going Globex The Economist 26 May 1990 Archived from the original on 24 September 2018 Retrieved 24 September 2018 Davis Stephen 1992 05 01 Globex Chicago s black box debuts screen based electronic trading system of Chicago Mercantile Exchange and Chicago Board of Trade Tech Notes Institutional Investor v26 n6 Euromoney Trading Limited 21 1 ISSN 0020 3580 Norton Leslie P An Exchange s Embarrassment of Riches Barron s 19 April 2010 Deflating Globex electronic exchanges The Economist 21 May 1994 Archived from the original on 24 September 2018 Retrieved 24 September 2018 a b c d e CME Globex MarketsWiki 27 September 2017 Retrieved from https en wikipedia org w index php title Globex Trading System amp oldid 1200983091, wikipedia, wiki, book, books, library,
