In an effort to boost Eurodollar trading on Globex, Chicago Mercantile Exchange (CME) announced it will cut trading fees and plans to set up a market making system during off hours. Meanwhile, the exchange will offer a new options contract on Eurodollars on 18 August.
CME will establish a market maker program for Eurodollar futures traded on Globex during non-floor trading hours. The electronic Eurodollar market maker program will be open to CME members, lessees and those who trade proprietary accounts at member firms. In order to participate in the market maker program, individuals or firms will be required to post sizeable bids and offers in designated Eurodollar futures contracts during non-floor trading hours, or between 2pm and 7:20am Central Time Monday through Thursday, and Sundays from 5:30pm.