Introduction to CME Globex


CME Globex: More Than a Trade Match Engine

Globex is an electronic trading platform offering global connectivity to the broadest array of futures and options across all asset classes, traded in thousands of possible expirations and combinations.


Globex encompasses a wide range of services and tools:



Trading Sessions & States

Trading States

You may enter, view, modify or cancel electronic orders during five daily CME Globex sessions. In each session, products transition through a variety of pre-defined states in which certain trading functionality is allowed.

  • The timing of these states and the transitions between them vary by product.
  • Sessions usually start in the afternoon or evening, U.S. Central time (CT).
  • Generally, they mark the beginning of the next trading day. For example, orders entered during Sunday's evening session (CT) are dated for and cleared on Monday.
  • If the CME Globex and open outcry sessions overlap for a given product, the trading day includes both the CME Globex session and the trading floor open outcry session.

Product Trading Schedule

CME Globex products trade according to three schedules:

Side-by-Side

  • For a portion of the day, contracts trade simultaneously on CME Globex and via open outcry

Electronic Only

  • Contracts trade only on CME Globex

After-Hours Electronic

  • Contracts only trade electronically on CME Globex after the product stops trading via open outcry

Order Types and Durations

You can trade a broad array of order types and order durations on the CME Globex platform. Order types and order duration qualifiers vary according to product and trading application.

View details in the CME Globex Reference Guide.

Market Protections on CME Globex

CME Globex monitors daily activity and has a number of safeguards in place to ensure market integrity.

Stop Logic

The CME Globex trading platform prevents extreme market moves resulting from cascading stop order execution. Upon the triggering of a stop order, the platform determines if the trade price would exceed the product's Non-Reviewable Range. In this scenario, the contract is then placed in a reserved state, during which orders may be entered, modified or cancelled but are not matched until the risk of cascading stop orders is resolved.

Protection Points for Market Stop Orders

The CME Globex platform automatically assigns a limit price from a pre-defined Protection Point (PRT) value for each Market with Protection and Stop with Protection orders. PRT values vary among products and are subject to change. See the current values.

The platform calculates the limit price by adding or subtracting the PRT value to the opposite best bid or offer in the market for a Market with Protection order; and by adding or subtracting the PRT value to the trigger price for a Stop with Protection order. Once triggered, any unmatched remaining quantity for a Market with Protection or Stop with Protection order will become a limit order at the price assigned by the match engine.

Price Banding functionality evaluates prices for all incoming orders on CME Globex and rejects orders with clearly erroneous prices. Learn more about Price Banding.

More on CME Globex

CME Globex Notices
For information regarding critical system updates, new functionality, product launches, and all information impacting CME Globex, sign up for the weekly CME Globex Notices.

Price Banding
To ensure a fair, stable and orderly market, CME Globex subjects all orders to price verification using a process called price banding.

CME Globex Customer Agreements
View the complete listing of Customer Agreements.

Resources

Smart Click
CME Globex customers can use SMART Click, a secure, web-based interface, to manage profile information such as contact details.

Global Partnership
Through our partnerships with other exchanges, CME Globex offers access to products in Latin America, Asia and the Middle East.

CME Globex Holiday Schedule
CME Group observes U.S. recognized holidays.

Contact Us

Global Account Management (GAM)
United States: +1 312 634 8700
Europe: +44 20 3379 3754
Asia: +65 6593 5505
globalaccountmanagement@cmegroup.com

CME Global Command Center
United States: +1 800 438 8616
Europe: +44 800 898 013
Asia: +65 6532 5010
Email: gcc@cmegroup.com
Website: www.cmegroup.com/gcc

Certification Support for Electronic Trading (CSET)
United States: +1 312 930 2322
Europe: +44 20 3379 2803
Asia: +65 6593 5593
Email: cset@cmegroup.com

Futures & Options Trading

As the world's leading and most diverse derivatives marketplace, CME Group is where the world comes to manage risk. CME Group exchanges offer the widest range of global benchmark products across all major asset classes, including futures and options based on interest rates, equity indexes, foreign exchange, energy, agricultural commodities, metals, weather and real estate. CME Group brings buyers and sellers together through the CME Globex electronic trading platform and trading facilities in New York and Chicago. CME Group also operates CME Clearing, one of the largest central counterparty clearing services in the world, which provides clearing and settlement services for exchange-traded contracts, as well as for over-the-counter derivatives transactions through CME ClearPort.

Idea Exchange

Idea Exchange is your direct link to the product managers, marketers, and the development teams who create cmegroup.com and will allow you to review functionality, participate in focus and provide feedback on upcoming Web initiatives

Idea Exchange - Join Our User Focus Program

Contact Us

CME Group/Chicago HQ:
Local: +1 312 930 1000
Toll Free: +1 866 716 7274

Global Customer Contacts

More CME Group Direct Lines
Phone list by department

Global Partnerships

Global

Global Offices Contact Information

 
Calgary Houston Chicago New York Washington São Paulo Belfast London Singapore Hong Kong Seoul Tokyo Beijing

© 2014 CME Group Inc. All rights reserved.

CME Group is the world's leading and most diverse derivatives marketplace. The company is comprised of four Designated Contract Markets (DCMs). Further information on each exchange's rules and product listings can be found by clicking on the links to CME, CBOT, NYMEX, and COMEX.