Chicago's two main futures exchanges have both seen recent
volume surges on their electronic trading platforms, following
measures which have enabled the exchanges to see off the early
stages of all-electronic foreign competition.
Eurodollar futures volumes surged on Chicago Mercantile
Exchange's (CME) Globex platform, hitting a new record on 2
April, with 615,932 contracts executed. That contributed to a
total Eurodollar record day of 2,548,246. The electronic volume
surpassed the prior record of 405,855 on 5 March, which also
was the previous one-day record for total Eurodollar futures
trading of 2,177,217.
CME recently approved a measure to move front-month Eurodollar
contracts off the floor and onto the screen entirely, if Globex
volume failed to reach 25% (see FO Week
Vol 9 No 6).
So far, this target has been exceeded.
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