CME Group Provides Trading Floor Integration Update
August 28 2007 - 4:10PM
PR Newswire (US)
CHICAGO, Aug. 28 /PRNewswire-FirstCall/ -- CME Group, the world's
largest and most diverse exchange, continues to move forward with
its plans to integrate operations, including consolidating all
products onto a single trading floor and platform. With
construction beginning next week, exchange officials began to meet
with members today to provide updates on the new trading floor
facility that will be located in the historic Chicago Board of
Trade building at 141 W. Jackson Blvd. Beginning in March the
company's equity index products will migrate to the newly revised
trading floor facility. Interest rates and foreign exchange
products will follow in April, with commodities products migrating
in May. CME Group will continue to provide access to the widest
array of benchmark products through two venues -- open outcry and
electronic trading. The combined trading floor is designed to
create new cross-product trading opportunities based on the
adjacency of related markets -- a feature that is currently not
available with trading floors in two separate locations. After an
extensive evaluation, it was determined that open outcry of certain
products with more than 90 percent of trading liquidity on the
screen could be moved entirely electronic. Today, CME Group trades
approximately 11 million contracts each day with 2.38 million
traded via open outcry. As a result of the trading floor
consolidation, CME Group will move the following products
exclusively to electronic trading: 1-Month LIBOR futures, Euroyen
futures and options on futures, Frozen Pork Bellies futures and
options, Cash Dairy, South American Bean futures, 100-Ounce Gold
options, 5,000-Ounce Silver options, and Ethanol futures. In
addition, trading of all FX products, including Australian Dollar,
British Pound, Canadian Dollar, Euro, Japanese Yen, Mexican Peso,
New Zealand Dollar, and Swiss Franc futures on the floor will be
consolidated into a single trading pit. CME Group will move trading
of Brazilian Real, Czech Koruna, Hungarian Forint, Korean Won,
Polish Zloty, Russian Rubble and South African Rand futures as well
as Cross-Rates Futures contracts to an electronic platform. CME
Group (http://www.cmegroup.com/) is the world's largest and most
diverse exchange. Formed by the 2007 merger of the Chicago
Mercantile Exchange (CME) and the Chicago Board of Trade (CBOT),
CME Group serves the risk management needs of customers around the
globe. As an international marketplace, CME Group brings buyers and
sellers together on the CME Globex electronic trading platform and
on its trading floors. CME Group offers the widest range of
benchmark products available across all major asset classes,
including futures and options based on interest rates, equity
indexes, foreign exchange, agricultural commodities and alternative
investment products such as weather and real estate. CME Group is
traded on the New York Stock Exchange and NASDAQ under the symbol
"CME." The Globe logo, CME, Chicago Mercantile Exchange, CME Group,
Globex and E-mini, are trademarks of Chicago Mercantile Exchange
Inc. CBOT and Chicago Board of Trade are trademarks of the Board of
Trade of the City of Chicago. These trademarks are used herein
under license. All other trademarks are the property of their
respective owners. Further information about CME Group and its
products can be found at http://www.cmegroup.com/. CME-G
DATASOURCE: CME Group CONTACT: media, Anita Liskey,
+1-312-466-4613, or Allan Schoenberg, +1-312-930-8189, , or
investors, John Peschier, +1-312-930-8491, all of CME Group Web
site: http://www.cmegroup.com/ http://www.cme.com/
http://www.cmegroup.mediaroom.com/
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