The Latest in IT Security

CME Group trading outage exposes weakened trading floor

10
Apr
2014

By Tom Polansek CHICAGO (Reuters) – Open-outcry traders sprang into action during an electronic trading halt in CME Group Inc agricultural markets on Tuesday, but a better solution to the outage would have been to close the pits down too, traders and investors said a day later. In chaos following the outage on CMEs electronic Globex platform, some orders sent to open-outcry grain pits went unfilled because there were not enough traders to handle the influx. The number of traders, brokers and clerks on CMEs cavernous agricultural trading floors has dwindled during the past decade due to the rise of faster and more efficient electronic trading, which now accounts for nearly 95 percent of volume in grain markets. We should absolutely halt all trading, floor and electronic, if the Globex goes down, he added.

Comments are closed.

Categories

FRIDAY, APRIL 26, 2024
WHITE PAPERS

Mission-Critical Broadband – Why Governments Should Partner with Commercial Operators:
Many governments embrace mobile network operator (MNO) networks as ...

ARA at Scale: How to Choose a Solution That Grows With Your Needs:
Application release automation (ARA) tools enable best practices in...

The Multi-Model Database:
Part of the “new normal” where data and cloud applications are ...

Featured

Archives

Latest Comments