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This topic provides an overview of the electronic trading services available from CME Group. To transact business on CME Group platforms, Executing Firms may use a CME Group provided front-end application, develop a proprietary application, or select from a variety of certified applications to execute electronic orders and receive market data directly. These applications are available from Firm Clearing Members (FCMs), Independent Brokers (IBs), and Independent Software Vendors (ISVs) and vary in the types of trading and risk management functionality supported, for example:

  • Quote Vendors receive Market Data from CME Group electronic markets and provide a variety of data offerings to market participants and other interested parties.
  • Clearing Firms and authorized Executing Trading Firms interface their risk systems with CME Group electronic platform to manage credit and market risks.

The following diagram illustrates the high-level business processes and associated functions of CME Group Trading services.

CME Trading Services

CME Clearing

CME Clearing monitors and processes more than one billion trades each year, worth more than $1,000 trillion, and ensures the financial integrity of each transaction.

Trading Platforms

Trading platforms comprise the features, functions, and services provided to CME Group customers. The CME Globex, CME Direct, and CME ClearPort platforms provide access to the broadest array of futures and options products available on any exchange, virtually around the clock, from anywhere in the world.

Order Entry

Customers submit and manage orders through CME Group order entry interfaces, which provide direct access to CME Group markets and support enhanced trading functionality including Mass Quotes and other market maker functionality. The order entry interfaces readily support customized trading systems.

Matching, Pricing, and Market Integrity

The electronic trading platform manages market schedules and availability, ensures market integrity, calculates settlement prices, and matches orders based on specific matching algorithms.

Market Data, Historical Data, and e-Data

Real-time market data is disseminated to market participant applications including instrument specifications, up to 10-deep order book data, market statistics, and market states. 

Historical data is also offered for purchase to market participants.

Real-time, delayed, and historical data as well as product specifications are available on the CME Group website.

Risk Management

CME Group offers these risk management tools, designed to protect trading customers and clearing firms: 

  • Cancel on Disconnect
  • Credit Controls
  • Risk Management Interface (RMI)
  • Drop Copy
  • FirmSoft
  • Kill Switch
  • Account Manager

 

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