CME Globex, which started operation in 1992, is a global electronic trading platform used for futures, options, and commodities trading across Agricultural, Energy, Equities, FX, Interest Rates, and Metals asset classes. Built for the CME or Chicago Mercantile Exchange, the CME Globex platform supports the four CME Group exchanges - CME, CBOT, NYMEX and COMEX.
CME Globex is an high performance electronic, open and accessible marketplace that operates 24/5, nearly round-the-clock with week-long trading sessions from evenings on Sundays to late afternoons on Fridays. This allows exchange members to consume market data and to trade directly with near instantaneous execution and concurrency.
In order to access CME Globex, trading firms require membership and a CME Group clearing firm relationship. Technically CME Globex presents a range of sophisticated market data feed, order entry, post-trade feed, and trade clearing APIs. Access to these APIs required trading participants to implement and certify the supporting Direct Market Access solutions.
The idea to develop CME Globex first gained credence in 1987. It was conceived as a way to provide round-the-clock electronic market access to futures and options trading. The platform was implemented and went live on June 25, 1992, using technology and infrastructure belonging to the news service Reuters. CME Globex started off with one treasury note and a few currency products, but soon expanded to comprise other assets, even inventing some. The E-mini S&P 500 futures contract was launched in 1997 and was meant to be an instrument that would be traded solely on CME Globex.
The CME Group established an open entrance rule for CME Globex in 2000, letting clients trade directly inside the system without the need to resort to a broker. Business soared as a result. Two years later, the average daily volume of contracts at CME Globex exceeded one million for the first time. In 2004, the CME Globex volume, for the first time ever, surpassed the physical pit volume. In 2007, the CME Globex system’s volume breached the one-billion-contracts mark for the first time. By 2012, electronic trading on CME Globex constituted 84% of the total volume of the CME Group’s various markets.
CME Globex today has expanded to include assets related to agriculture, stock indices, energy, real estate, metals, interest rates and the weather.
At OnixS, we provide Direct Market Access (DMA) Software Development Kits (SDKs) for mission critical trading infrastructure and application frameworks. Our SDKs are fully supported and designed to enable developers to quickly integrate market data feeds, order entry APIs, and post trade feeds into trading and application frameworks. Visit our website for more details on our market leading CME Globex DMA SDK solutions and for a tour of our other products.
OnixS provides easy to use Direct Market Access (DMA) SDK solutions enabling proprietary trading groups, commodity and energy trading firms, application ISVs, investment banks and exchanges to save time and money in the build and ongoing maintenance of trading systems and application frameworks.