Chicago Mercantile Exchange (CME) is said to be considering changes that could alter its long-standing mutual offset system with Singapore Exchange (SGX).
Sources in Singapore told FO Week that the linkage agreement could undergo some changes as CME looks to expand the distribution of its Globex electronic trading platform. One possible change is to shorten the length of time in which SGX trades the Eurodollar contract. Eurodollar futures are already offered 23 ½ hours per day on Globex, which now includes some spread trading functionality with the Eagle software upgrade.
And, earlier this month, CME announced a series of internet and direct connection upgrades that will allow cheaper and easier access to Globex worldwide.
Sources also tell FO Week that...