Globex

Globex is one of the most promising electronic platforms created for futures and options trading. It has been operating since 1992. The system was developed by the Chicago Mercantile Exchange (CME). Nowadays it offers features continuously and is available for traders from various countries (more than 150). 

The trading volume on Globex accounts for 90% of the total trading volume of CME Group. 

Globex Explained

The trading platform with free access operates almost on a 24-hour basis. Globex users are able to trade and view information about derivatives from Sunday evening to Friday afternoon. 

To take part in the trading process on Globex, a trader should build a relationship with a CME Group clearing firm and get an app. Trading sessions on Globex open in the afternoon and sometimes in the evening. For instance, if trading orders are placed on Wednesday evening, it means that it will be fulfilled on Thursday. Carrying out trading sessions continuously, the marketplace still takes a break between them that lasts from 30 minutes to 60 minutes, according to the type of financial instruments.

Guide to History of Globex

CME Group first came up with the idea of creation of Globex in 1987. It was established in 1992, offering 3 currency products and 1 T-Note product. Nevertheless, the development of Globex was not long in coming and soon there appeared different assets.

They even created their own assets. The striking example is the E-mini S&P 500 futures contract that was launched in 1997. 

In 2000 CME Group offered users free access to Globex and they had an opportunity to trade without using a broker.  As a consequence, the trading platform grew bigger than ever. 

The system works with other international stock exchanges, such as Dubai Mercantile Exchange, etc. It should be noted that the platform crossed the mark of 1 billion contracts in 2007. 

Currently, it is a platform where assets of the agriculture, energy, metals, and other sectors are traded.