FCT and Chicago Mercantile Exchange Establish Direct Customer Connectivity From Gibraltar
FCT and Chicago Mercantile Exchange Establish Direct Customer Connectivity From Gibraltar
Apr 28, 2004
"Linking directly to CME's electronic trading platform provides us with important connectivity and cost savings," said Roger E. Carlsson, founder and Chairman of FCT. "Using GLOBEX from Gibraltar provides us with the ability to trade at any time and this connection is a significant addition to our business."
"Gibraltar continues to grow as an influential trading location in the world and we are delighted that firms like FCT can now access GLOBEX directly from this location," said Arman Falsafi, CME Managing Director, Global Electronic Trading & Data. "Enabling fast and efficient connectivity to GLOBEX through this and other such facilities is in line with our growth strategy in Europe and our ongoing commitment to serving our European customers."
On April 1, 2004, CME officially launched four new European telecommunications hubs in Amsterdam, Dublin, Frankfurt and Gibraltar, consistent with the company's November 2003 commitment to open these facilities. Customers using the hubs will connect to CME's GLOBEX platform via a 2 megabit (E1) circuit ordered through the carrier of their choice. European customers using the new hubs can reduce their GLOBEX connectivity charges by as much as 75 percent of current costs. CME installed its first hub in London in January 2002. Two additional telecommunications hubs will open in Milan and Paris later this spring.
In June 1992, CME launched GLOBEX, the first global electronic trading platform for the trading of futures and options on futures products. Initially implemented for after-hours trading of CME products, today GLOBEX is available virtually around the clock, five days a week, offering customers around the world the capability to trade all of CME's flagship products, including Eurodollars, S&P 500®, NASDAQ-100®, foreign exchange and the E-mini suite of index futures -- the fastest growing products in CME history.
In March 2004, average daily trading volume on CME's GLOBEX platform exceeded 1.5 million contracts, representing 51 percent of total volume, the first time electronic trading volume exceeded 50 percent in one month.
Market users in Europe interested in direct connectivity to GLOBEX should contact CME's London office at 44-207-623-2550.
About FCT
FCT is one of the last true independent Proprietary Trading and Clearing firms with a global presence. The group is a major participant on every major derivative exchange through direct electronic access.
FCT provides Trading, Clearing and Financial support to individuals and groups who conduct proprietary trading, arbitrage and market making in Futures and Options on Interest Rates, Stock Indexes, Equity Securities and Commodities.
Founded in 1984, FCT has grown from a single Chicago based office into an international organization with principal offices in Chicago, London, Gibraltar and Hong Kong.
Chicago Mercantile Exchange Inc. ( www.cme.com ) is the largest futures exchange in the United States. As an international marketplace, CME brings together buyers and sellers on its trading floors and GLOBEX® electronic trading platform. CME offers futures and options on futures primarily in four product areas: interest rates, stock indexes, foreign exchange and commodities. The exchange moved about $1.5 billion per day in settlement payments in the first quarter of 2004 and managed $38.1 billion in collateral deposits at March 31, 2004. CME is a wholly owned subsidiary of Chicago Mercantile Exchange Holdings Inc. (NYSE: CME), which is part of the Russell 1000® Index.
Statements in this news release that are not historical facts are forward- looking statements. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or implied in any forward-looking statements. More detailed information about factors that may affect our performance may be found in our filings with the Securities and Exchange Commission, including our most recent Annual Report on Form 10-K, which can be obtained at its Web site at www.sec.gov . CME undertakes no obligation to publicly update any forward- looking statements, whether as a result of new information, future events or otherwise.
Chicago Mercantile Exchange, CME, the globe logo and GLOBEX are registered trademarks of Chicago Mercantile Exchange Inc. E-mini is a trademark of CME. S&P, S&P 500, NASDAQ-100, Russell 1000 and other trade names, service marks, trademarks and registered trademarks that are not proprietary to Chicago Mercantile Exchange Inc. are the property of their respective owners, and are used herein under license. Further information about CME and its products is available on the CME Web site at www.cme.com .
SOURCE Chicago Mercantile Exchange Inc.
Media, Anita S. Liskey, +1-312-466-4613, or Allan Schoenberg, +1-312-930-8189, news@cme.com , or Investor, John Peschier, +1-312-930-8491, all of Chicago Mercantile Exchange Inc.
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"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding Chicago Mercantile Exchange's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report or Form 10-K for the most recently ended fiscal year.