The fast-growing electronic exchange platform of the Chicago Mercantile Exchange will challenge New York and London in the lucrative energy markets. The CME will likely offer energy contracts but no timetable was given nor any other specifics from Craig Donahue chief executive of the CME.
The Chicago exchange saw sharp growth in Globex volume last year. It accounted for 70 percent of total trading volume, up from 57 percent in the prior year, CME said yesterday. The low cost of its electronic platform would allow CME to create a new energy contract relatively quickly and at very low cost.
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CME(R) Globex(R) Average Daily Volume Of 3.3 Million Contracts Up 30 Percent - Electronic CME Eurodollar Options Volume Quadrupled Compared With January 2005 - CME Agricultural Commodities Record Monthly Volume Up 50 Percent.
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