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After five years of planning, negotiation and development, the CME
® Globex
® electronic trading platform launched on June 25, 1992. Based on Reuters' technology,
CME Globex terminals were originally hard-wired to Reuters' global network anchored to a mainframe
in Long Island, New York. With trading from Chicago, New York, Paris and London, CME Globex truly
became a global electronic marketplace.
On its first day of trading 2,063 CME Deutsche mark and CME Japanese yen futures and
options on futures were traded through the platform. The CME British pound, CME Swiss franc and CME
Australian and CME Canadian dollar futures were added to the CME Globex platform in July 1992, with
the benchmark three-month CME Eurodollar futures and options on futures contracts joining them one
month later. CME Equity products made their debut on the electronic trading platform in September
1993, when CME launched the benchmark CME S&P 500
® futures and options on futures contracts.
Ten years later, with new contracts and the second generation of the CME Globex platform
implemented, utilizing the NSC trading system, the October 2002 average daily volume reached 1.2
million contracts. Throughout its history, the CME Globex platform has hit a number of
significant milestones as it continues on its solid path of successful electronic trading.
| October 2005 |
| CME announces the successful launch of Release 2 of the CME Globex
Options Enhancements, featuring Mass Quoting and Enhanced Market Maker Protections functionality on
CME Equity and CME FX options for CME-designated market makers; and enhanced options price
banding. |
| September 2005 |
| CME set a new global futures record with 10.7 million contracts
(excluding CME TRAKRS
®) traded. This broke the previous record, set only the day before, of 9.97
million contracts. For the second consecutive day, volume on the CME Globex electronic trading
platform achieved a new high with 6.9 million contracts traded. |
| August 2005 |
| CME successfully launches Release 1 of the CME Globex Options
Enhancements, including CME Eurodollar Options on Globex via CME iLink®. As a result of this
launch customers can access CME Eurodollar options and spreads, with indicative quotes, 23 hours a
day with a market data network configuration change. |
| July 2005 |
| CME releases the new CME Market Data Platform, creating a single
market data feed for electronic trading customers and market data distributors. |
| June 2005 |
| CME launches new Exchange Traded Funds futures contracts:
NASDAQ-100 Index Tracking Stock® ("QQQ"), Standard & Poor's 500 Depositary Receipts® ("SPY")
and iShares Russell 2000 Index Fund
TM
("IWM"). |
| March 2005 |
|
CME FX on Reuters launches, marking the first major linkage of sell-side traders in the
interbank FX market to the CME eFX futures markets.
CME announces that it will list CME Ethanol futures contracts - the exchange's first-ever energy
contract - for exclusive trading on the CME Globex platform.
CME achieves a new electronic trading record of over 3.8 million contracts, excluding the
non-traditional TRAKRS products.
|
| January 2005 |
| Average daily volume on the CME Globex electronic trading platform
nears 2.6 million contracts and electronic trading represents 69 percent of total CME volume. |
| December 2004 |
|
Volume on the CME Globex electronic trading platform exceeds 451 million contracts for 2004. CME
Eurodollars on Globex trade almost 855,000 contracts per day during the fourth quarter,
representing 72 percent of total CME Eurodollar volume.
The CME Globex platform is named the Best Financial IT Project of 2004 by Waters Magazine.
Global Finance recognizes CME as the Most Innovative Exchange.
|
| November 2004 |
|
An all-time daily high of 3.7 million contracts trade electronically at CME.
Electronic CME Eurodollar futures trade 2.1 million contracts, the first time more than 2 million
contracts trade electronically in a single day.
CME announces that it will establish the first Asian telecommunications hub in
Singapore.
|
| October 2004 |
|
CME releases implied butterfly spread functionality on October 18.
On October 19, the CME Globex platform executes the one billionth contract
traded since its launch in June 1992. Electronic trading represents 61 percent of total CME
volume.
|
| August 2004 |
|
Using patent-pending technology, new state-of-the-art electronic options
functionality for electronically traded CME Eurodollars on Globex launches on August 2. The
enhanced options system facilitates trading of complex combination and spread trades typically used
with short-term CME Interest Rate options on futures.
On August 6, a new daily volume record was reached with over 3.5 million
contracts trading on the CME Globex platform. Through the end of August, trading in the CME eFX
market more than doubles from 2003. August was the eleventh consecutive record volume month for CME
Eurodollar futures traded electronically.
|
| July 2004 |
|
Electronically traded CME Eurodollar futures score a record daily volume of
almost 1.4 million contracts on July 2.
The exchange develops two Japanese monthly and seasonal CME Weather contracts
for Tokyo and Osaka based on the Pacific Rim Index.
|
| June 2004 |
|
CME launches an innovative electronic trade-matching capability offering the first seamless
integrated trading and clearing of CME-listed products with forward rate agreements (FRAs) in
over-the-counter (OTC) interest rate markets. The FRA contracts, which are essentially Eurodollar
futures with flexible daily expiration dates, are automatically matched and executed on the CME
Globex electronic trading platform.
June 21 marks the fifth anniversary of the launch of the CME E-mini
® NASDAQ-100
® futures contract -- a smaller sized, electronically traded version of the standard CME
NASDAQ-100 futures, which track the NASDAQ-100 Index.
|
| May 2004 |
|
Birkert Wertpapierhandelshaus AG becomes the first Germany-based customer to initiate direct
access to the CME Globex platform through the recently opened CME telecommunications hub in
Frankfurt.
CME launches a telecommunications hub in Paris one month ahead of schedule, bringing the total
European telecommunications hubs in operation to six. Hubs are now fully operational in Amsterdam,
Dublin, Frankfurt, Gibraltar, London and Paris, with the Milan hub scheduled to follow.
CME Globex volume breaks the 3 million barrier on May 7 with traded volume of 3,069,922. CME
Eurodollars on Globex average more than 500,000 contracts per day, up 400 percent from January
2004.
|
| April 2004 |
| FCT becomes the first company to initiate direct access and trading
on the CME Globex platform via the CME Gibraltar hub. |
| March 2004 |
|
In a special shareholder meeting, Class B Shareholders approve the proposal authorizing the CME
Board of Directors to mandate the transition of the front two CME Eurodollar futures products onto
the CME Globex electronic trading platform in an orderly fashion under certain circumstances.
CME opens the CME Globex Learning Center (GLC), the world's first training facility dedicated
solely to electronic trading. The GLC is designed to help current open-outcry traders make the
transition to electronic trading through a comprehensive program, including simulated trading
stations, education, training and support.
CME launches CME Globex European Hubs in the following regions:
- Frankfurt, Germany
- Dublin, Ireland
- Amsterdam, Netherlands
Trading on the CME Globex platform generates the majority (51 percent) of all CME trading volume
for an entire month, averaging 1.561 million contracts per day. The CME Globex platform also hits
another new single day volume record, trading 2.6 million contracts on March 11.
|
|
February 2004
|
|
CME launches the Japanese yen-denominated CME Nikkei 225
® stock index futures contracts on the CME Globex platform marking the first time yen
denominated Nikkei contracts are offered for trading during non-Asian business day hours.
From January through the end of February 2004, CME electronic Foreign Exchange (eFX) volume
accounts for more than 4.5 million contracts on the CME Globex platform. Year-to-date average daily
volume of approximately 111,000 is almost double 2003's number, and seven-fold the average daily
volume of 2001. CME eFX as a percent of total CME volume on FX climbs from just under 30 percent in
2001 to 46 percent in 2002, 61 percent in 2003 and now represents almost 80 percent for the
year.
|
| January 2004 |
|
CME begins clearing Chicago Board Of Trade's
® (CBOT) remaining futures and options on futures products – including Treasuries,
Agency Notes, e-miNY
TM
Gold and Silver – and becomes the largest clearing organization in the world for futures and
options on futures, clearing approximately 85 percent of U.S. futures and options on futures
volume.
CME announces the acquisition of Liquidity Direct Technology, LLC.
CME becomes the first non-Australian exchange to receive license under a new regulatory
framework, providing Australia direct access to CME markets through the CME Globex platform.
|
| November 2003 |
| CME begins providing clearing and related services to the CBOT for
commodity, equity and certain interest rate products. |
| October 2003 |
|
CME and NASDAQ announce an expanded partnership to develop new futures contracts based on the
NASDAQ Composite Index
®. CME launches the new CME E-mini NASDAQ Composite Index futures contracts on the CME
Globex platform.
E*TRADE connects directly to the CME Globex platform, enabling their customers to trade CME Euro
FX and CME Japanese Yen currency contracts in either the full size or the CME E-mini version.
|
| September 2003 |
| For the first time ever in a single month, trading volume on the
electronic trading platform exceeds 1 million contracts every day. |
| August 2003 |
|
CyberTrader Inc. and CME team up to provide CyberTraders with direct order-execution
connectivity to CME via the CME Globex platform for trading the CME E-mini S&P 500 and CME
E-mini NASDAQ-100 contracts.
CME offers access to the CME Globex platform to Bloomberg subscribers for direct
order-execution.
|
| January 26,
2003 |
| CME Globex Implied Pricing Functionality for CME Eurodollars
launches, permitting electronic calendar spread trading and creating implied prices for outright
futures and spreads for CME Eurodollar futures. |
| November 8,
2002 |
| OneChicago, LLC, the joint venture of CME, Chicago Board Options
Exchange® (CBOE), and CBOT, successfully launches single stock futures trading on the CME Globex
platform. |
| June 17, 2002 |
| A total of 2,483 e-miNY
TM
crude oil and natural gas futures contracts are traded on the CME Globex platform, and
cleared at the New York Mercantile Exchange clearing house. |
| June 12, 2002 |
| The CME Globex platform breaks the 1 million trades milestone in a
single day, with 1,028,191 contracts traded. |
| April 2001 |
| CME eFX products begin side-by-side electronic trading during
regular trading hours (RTH). |
| May 2000 |
| CME Market Data API (MD API) is introduced. The new interface
provides depth of book (size of bids and offers) for CME Globex market data. |
| July 1999 |
| CME Eurodollar contracts begin side-by-side electronic trading
during RTH. |
| June 1999 |
| The CME E-mini NASDAQ-100 futures contracts are launched on the CME
Globex electronic trading platform. The CME E-mini NASDAQ-100 and the CME E-mini S&P 500
futures contracts become the two fastest-growing products in CME history. |
| September 1998 |
| CME launches the next generation of the CME Globex platform based
on the NSC system. |
| August 1998 |
| Electronic trading volume of CME products surpasses the 1 million
contract mark for the first time in a single month. |
| September 1997 |
| CME launches the CME E-mini S&P 500 futures contracts, offering
electronic trading during open-outcry hours (RTH) for the first time. The contract trades
approximately 23 hours a day, five days per week, and becomes the fastest growing product in CME
history. |
| February 1997 |
| In an innovative software swap, CME announces it will provide
Euronext, the French stocks, futures and options exchange, with its state-of the art clearing
system, CME CLEARING 21
®, in return for the NSC matching engine, which was developed by the Paris-Bourse for
MATIF (now Euronext). NSC will become the foundation of the next-generation global electronic
trading system for futures and options on futures contracts. |
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