CME Halts Electronic Trade on Futures

Discussion in 'Wall St. News' started by dealmaker, Aug 24, 2014.

  1. dealmaker

    dealmaker

    The Chicago Mercantile Exchange halted electronic futures trading due to technical issues, affecting contracts from U.S. stock-indexes to Treasuries, oil, gold and copper traded on CME Group Inc. (CME:US)’s Globex platform.
    CME Group, the world’s largest futures market, suspended the start of trading on all of its Globex electronic-trading markets except for Malaysian equity-index derivatives, according to its website. Trading will open at 9 p.m. Chicago time, the bourse said in a later update. Dozens of commodities from corn to West Texas Intermediate crude change hands on the all-electronic Globex platform that begins on Sunday nights in the U.S., as well as contracts on interest rates and stock indexes.

    “The biggest problem you might have is with some of the agricultural products because people rely on it quite heavily,” Jonathan Barratt, the chief investment officer at Ayers Alliance Securities in Sydney, said by phone today. “You’re taking away a risk transfer mechanism that people rely on.”

    http://www.businessweek.com/news/20...ectronic-trading-for-all-markets-bar-malaysia