The inexorable rise of electronic trading has left no facet of the capital markets untouched. And while the lightning-fast world of equities trading has led the way, other asset classes have followed, not least exchange-traded derivatives.
For CME Group, the journey towards electronification started in the late 1980s. The group had extended floor trading hours to meet demand for treasury futures from investors in different time zones, but the night shift was not one relished by traders. In response, the group’s Globex electronic trading platform was dreamed up in 1987 to meet the need for after hours coverage, and increase order flows from hub markets such as London.
