Discovering CME Globex: Evolution of Electronic Trading Platforms for Derivatives

Unfold the journey of CME Globex, one of the pioneering electronic trading platforms for derivatives, connecting traders globally since 1992.

Globex is an electronic trading platform, a trailblazer since its 1992 launch, utilized for trading derivatives like futures, options, and commodity contracts across various asset classes. Developed for the Chicago Mercantile Exchange (CME), CME Globex operates seamlessly, transcending geographic boundaries and time zones.

Fact: Globex trades represent approximately 90% of CME Group’s total trading volume. The platform is accessible from over 150 countries and foreign territories.

Key Benefits

  • Pioneering Platform: Introduced in 1992, Globex revolutionized electronic trading for derivatives contracts.
  • Around-the-Clock Access: Functions almost 24/7, from Sunday evening to late Friday afternoon.
  • Diverse Products: Offers products uniquely traded on Globex alongside those traded through traditional open-outcry.

Experience the Continuously Active Marketplace of Globex

Globex offers an open-access marketplace nearly 24 hours a day, from Sunday evening to late Friday afternoon. This expansive operation period allows participants globally to trade and access essential trading data in real time.

Users need a CME Group clearing firm relationship and a CME Group-certified trading application to access Globex. CME Group encompasses the Chicago Mercantile Exchange (CME), along with key commodity exchanges such as Commodity Exchange, Inc. (COMEX), New York Mercantile Exchange (NYMEX), and Chicago Board of Trade (CBOT).

The session typically starts in the afternoon or evening, marking the beginning of the next trading day. For instance, orders placed during Monday’s evening session are dated and cleared on Tuesday. Brief breaks of 30 to 60 minutes occur between the close and reopening of the five daily sessions, depending on the asset class.

An Early Example of a CME Globex Terminal

17+ million

More than 17 million contracts are traded daily on Globex, on average.

The Development of Globex: A Pioneer in Electronic Trading

Globex’s inception took place in 1987, emerging as a solution for after-hours market coverage for futures and options trading. Officially launched on June 25, 1992, it utilized technology and infrastructure from Reuters, starting with three currency products and one Treasury note product. Globex quickly expanded its range, inventing new assets in the process.

Noteworthy introductions include the E-mini S&P 500 futures contract in 1997, destined solely for trading on Globex. Other significant “e-mini” contracts cover the FORTUNE E-50 Index, E-mini Currency, and the E-mini Nasdaq 100 contracts.

In 2000, CME Group’s open access policy allowed customers direct trading within the system, eliminating the need for brokers and significantly boosting business. In 2002, Globex’s average daily volume surpassed 1 million contracts, escalating past the physical pit volume for the first time in 2004 and reaching over 1 billion contracts by 2007. By its 20th anniversary in 2012, Globex processed 84% of CME Group’s total market volume electronically.

Globex now serves various sectors, from agriculture (Kansas City Board of Trade and Minneapolis Grain Exchange products in 2008) to energy, stock indices, foreign exchange, interest rates, metals, real estate, and even weather derivatives. Some products are exclusively traded on Globex, while others through open-outcry pits. }

Related Terms: Chicago Mercantile Exchange, derivatives, Commodity Exchange Inc., New York Mercantile Exchange, Chicago Board of Trade


  1. CME Group. “Daily Exchange Volume and Open Interest”.
  2. CME Group. “Twenty Years of CME Globex”.

Get ready to put your knowledge to the test with this intriguing quiz!

--- primaryColor: 'rgb(121, 82, 179)' secondaryColor: '#DDDDDD' textColor: black shuffle_questions: true --- ## What is "Globex"? - [x] An electronic trading platform used by the CME Group - [ ] A type of global stock index - [ ] A major financial institution - [ ] A financial regulation agency ## Which company operates the Globex trading platform? - [ ] NYSE - [ ] NASDAQ - [x] CME Group - [ ] London Stock Exchange ## What markets can be traded on the Globex platform? - [ ] Equities only - [ ] Commodities only - [ ] Currencies only - [x] A variety of markets including equities, commodities, and currencies ## What is a significant feature of Globex? - [ ] Only supports offline trading - [ ] Operates only during market hours - [x] Provides 24-hour electronic trading - [ ] Is restricted to retail investors ## In what year was the Globex trading platform launched? - [ ] 1984 - [ ] 1995 - [x] 1992 - [ ] 2000 ## What primary function does Globex serve? - [ ] Facilitating in-person trading - [x] Enabling electronic transactions and automated order matching - [ ] Conducting financial audits - [ ] Setting global interest rates ## How does Globex enhance market liquidity? - [ ] By limiting the number of daily trades - [x] Through continuous 24-hour trading - [ ] By targeting only pairs trading - [ ] By offering high transaction fees ## Which of these products is not typically traded on Globex? - [ ] Futures - [ ] Options - [x] Real estate - [ ] Foreign exchange ## What type of participants primarily uses the Globex platform? - [ ] Only central banks - [ ] Only governmental organizations - [x] Institutional and retail traders - [ ] Only commodity brokers ## How does the Globex platform complement the services offered by CME Group? - [ ] By regulating market effects in premium assets - [ ] By providing actuarial services - [x] By facilitating around-the-clock electronic trades in multiple markets - [ ] By automatically balancing investor portfolios