Chicago Mercantile Exchange (CME) revealed last week that it has been developing a next generation electronic platform in association with IBM. The exchange claimed the new system could change the way trading engines are designed in the coming years.
CME chief technology officer Charlie Troxel told FO Week that engineers were close to completing the initial design stage for a trading engine that will match orders from anywhere in the world simultaneously.
The plan has called for a multi-location matching network that handles orders on different servers in various parts of the world and yet still aggregates prices as one order book.
In other words, CME and...