CME Group resumes electronic trading after glitch delays open

Whatsapp News

CME GroupCME Group delayed the start trade its electronic platform by four hours Monday due problems, the latest glitch hit the world’s largest futures market operator.

But traders in Asia said the delay would have only a limited impact, with volumes likely thin Monday morning in the absence major market-moving news over the weekend.

The start trade in all contracts the Globex Markets platform, apart from Bursa Malaysia derivatives, was halted because an unspecified glitch, the top . operator said on its website.

Trade eventually began at 2200 EST, but a spokesman for CME in Singapore declined further comment.

Among contracts traded on CME include the benchmarks for . crude and agricultural markets such as wheat, corn and soybeans. . gold and silver futures are also traded on the system.
The delay marks another headache for CME, which shut electronic trade for leading agricultural contracts on April 8 in the worst-ever trading outage for those markets.

CME Chairman Terrence Duffy has said outage was triggered when sophisticated technology tripped over a trading halt in a single market.

CME, which owns the Chicago Mercantile , the Chicago Board of Trade and the New York Mercantile , said in July it would slash costs by reducing hiring and employee travel amid weak trading volumes led a 15 percent drop in second-quarter net profit.

All day and session orders, including so-called good--date orders with an Aug. 24 trade date would be canceled, CME said on Monday.

All orders have been acknowledged would remain working, the operator said. (Reuters)[eap_ad_3]