Globex Goes Live, But Will OTC Market Bite? Meanwhile, CME Plans Another Trading Floor
EXCHANGES
The Chicago Mercantile Exchange (CME), the Chicago Board of Trade (CBOT) and Reuters Holdings PLC finally launched Globex late last week. But Globex officials and market participants aren't betting that the electronic futures and options order-matching system, which opened on about 100 screens in the U.S. and 40 screens overseas Thursday, will soar straight out of the gate or ultimately replace open outcry.
In an interview in New York, Globex Corp. chairman Leo Melamed insisted that critics give
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