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Chicago Mercantile Exchange
The largest options and futures exchange in the world. Founded as a non-profit at the end of the nineteenth century, it demutualized in 2000 and went public in 2002. Approximately 70% of its business takes place electronically on CME Globex, the oldest electronic futures exchange in the world with well over one billion transactions since its introduction in 1992. In October 2008, in light of the credit crunch, the CME allied with the Citadel Investment Group LLC to create a transparent electronic trading platform for default credit swaps.
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Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.