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Last Updated:
2024-09-22 08:20:01

CME Group

Financial services company headquartered in Chicago
Financial services company headquartered in Chicago

CME Group operates major financial derivatives exchanges worldwide, including agricultural products, currencies, energy, and cryptocurrencies. It is the largest operator in the world.

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1848
CBOT establishes world's first futures exchange in Chicago

In 1848, the Chicago Board of Trade (CBOT) created the world's first futures exchange in Chicago, laying the foundation for modern futures trading.

1851
CBOT introduces earliest recorded forward contracts

In 1851, CBOT offered the earliest recorded forward contracts, marking the beginning of the popularity of forward contracts among merchants and processors.

1865
CBOT establishes world's first futures clearing operation

In 1865, CBOT created the world's first futures clearing operation by introducing performance bonds (margin) for buyers and sellers in its grain markets.

1870
CBOT introduces first octagonal futures trading pit

In 1870, CBOT developed the first octagonal futures trading pit, revolutionizing the trading environment for futures contracts.

1877
Trading in CBOT grain complex is launched

In 1877, trading in CBOT's grain complex, including corn, oats, and wheat futures, was officially launched, further solidifying its position in the futures market.

1885
CBOT constructs new building at LaSalle and Jackson streets

In 1885, CBOT constructed a new building at LaSalle and Jackson streets in Chicago, which was the city's tallest building at the time and the first commercial structure with electric lights, to accommodate the rapid growth of futures trading.

1898
Chicago Mercantile Exchange (CME) founded

The Chicago Mercantile Exchange (CME) was established in 1898 as a nonprofit corporation.

1919
Establishment of clearing house by CME

In 1919, the Chicago Mercantile Exchange (CME) established its clearing house.

1961
CME introduces frozen pork bellies futures contract

In 1961, the Chicago Mercantile Exchange (CME) made history by launching the first futures contract on frozen, stored meats, specifically frozen pork bellies. This innovative contract opened up new opportunities for traders.

1964-11-30
Introduction of Live Cattle Calendar Spread Options

On November 30, 1964, Live Cattle Calendar Spread Options were introduced.

1972
Launch of CME Group Futures and Options Contracts

The historical first trading date for futures and options contracts on CME Group exchanges dates back to 1972.

1982
Launch of S&P 500 Index futures contract

In 1982, CME successfully launched the first stock index futures contract based on the S&P 500 Index, allowing investors to hedge against market fluctuations.

1984-10-30
Introduction of Mini-Sized Corn

On October 30, 1984, Mini-Sized Corn was introduced.

1987
Introduction of CME Globex electronic trading platform

CME revolutionized futures trading in 1987 by pioneering electronic trading with the conceptualization and development of the CME Globex platform, enabling faster and more efficient trading.

1992
First electronic futures trades on CME Globex

In 1992, the first electronic futures trades were executed on the CME Globex platform, marking a significant milestone in the evolution of futures trading towards electronic platforms.

1996-01-11
Class III Milk

Class III milk futures and options were established on January 11, 1996.

1996-09-05
Cash-Settled Butter

Cash-settled butter futures and options were introduced on September 5, 1996.

1997
Launch of E-mini S&P 500 futures

CME introduced the first mini-sized, electronic futures contract known as E-mini S&P 500 futures in 1997, extending trading hours beyond traditional floor trading and enhancing market accessibility.

1999-10-07
Launch of E-mini™ Japanese Yen

On October 7, 1999, the E-mini™ Japanese Yen futures and options were introduced.

2000
De-mutualization of CME and transition to publicly traded exchange

In 2000, CME membership voted to de-mutualize, leading to the exchange becoming publicly traded and providing greater transparency and access to investors.

2002-04-08
2-Year Swap

The 2-Year Swap was introduced on April 8, 2002.

2003-04-07
Introduction of Mini-Sized Wheat

On April 7, 2003, Mini-Sized Wheat was introduced.

2004
CME Globex reaches one billionth contract traded milestone

In 2004, CME Globex achieved a significant milestone by executing the one billionth contract traded since its launch in June 1992.

2005
CBOT demutualizes and goes public

In 2005, the Chicago Board of Trade (CBOT) underwent demutualization and transitioned into a publicly traded company, being listed on the New York Stock Exchange.

2006
CBOT and CME Merger Agreement

In 2006, CBOT and the Chicago Mercantile Exchange (CME) signed an agreement to merge into a single company, pending regulatory and shareholder approval. This marked a significant step towards consolidation in the derivatives market.

2007-07-12
Merger of CME with Chicago Board of Trade

On July 12, 2007, CME merged with its historical rival, the Chicago Board of Trade, in an $8 billion deal, forming the world's largest financial market.

2008-02-07
CME Group - Leading Derivatives Marketplace

CME Group, known as the world's leading derivatives marketplace, consists of four Designated Contract Markets (DCMs) and plays a significant role in the financial industry.

2008-08-22
CME Group acquisition of New York Mercantile Exchange (NYMEX)

On August 22, 2008, CME Group acquired the New York Mercantile Exchange (NYMEX) along with the Commodity Exchange (COMEX) for $8.9 billion in cash and CME Group stock.

2009
CME Group Completes New York Trading Floor Integration

In 2009, CME Group successfully completed the integration of the New York trading floor, a crucial milestone following the acquisition of NYMEX in 2008. This integration streamlined operations by consolidating energy and metals trading onto a single floor.

2010-03-05
Introduction of Mini-Sized Soybeans

On March 5, 2010, Mini-Sized Soybeans were introduced.

2010-05-06
2010 Flash Crash

CME Group was central to the 2010 flash crash, where Navinder Singh Sarao, a British trader, used spoofing algorithms on CME's Globex platform, causing significant market disruption.

2011-06-21
Cash-Settled Cheese

Cash-settled cheese futures and options were launched on June 21, 2011.

2011-07-15
Delisting of Frozen Pork Bellies

On July 15, 2011, Frozen Pork Bellies were delisted from the market. This event marked the end of trading for this commodity.

2012-12-03
CME Group acquisition of Kansas City Board of Trade

On December 3, 2012, CME Group bought the Kansas City Board of Trade, a major platform for trading hard red winter wheat, for $126 million in cash.

2013-07
CME Group wins Derivatives Intelligence's 2013 Global Derivatives Award

In July 2013, CME Group was honored with Derivatives Intelligence's 2013 Global Derivatives Award for Exchange of the Year.

2014-04
CME Group Named 'North America Exchange of the Year' and 'Clearinghouse of the Year'

In April 2014, CME Group was recognized as the 'North America Exchange of the Year' and 'Clearinghouse of the Year' by Global Capital.

2015
CME Group announces closure of open outcry trading pits

In 2015, CME Group made the decision to close down most of its open outcry trading pits, marking the end of a traditional method of price discovery. This move reflected the shift towards electronic trading in modern financial markets.

2016-03-15
Sale of suburban Chicago data center by CME Group to CyrusOne

In March 2016, CME Group announced the sale of its suburban Chicago data center in Aurora, IL to CyrusOne for $130 million in a leaseback transaction.

2017-04
CME Group Announces Record Open Interest of 123 Million Contracts

In April 2017, CME Group achieved a milestone with a record open interest of 123 million contracts.

2018-08-23
CME Group Board Governance Issue

In August 2018, CME Group offered holders of Class B shares $10 million to give up control of their six board seats, but the offer was rejected.

2018-10-01
Swap Futures

Swap Futures were introduced on October 1, 2018.

2018-11-02
CME Group acquisition of NEX Group

On November 2, 2018, CME Group acquired the London-based NEX Group for $5.5 billion.

2019
CME Group's 100% Score on Human Rights Campaign's Corporate Equality Index

CME Group achieved a perfect score of 100% on the Human Rights Campaign's Corporate Equality Index in 2019, showcasing its commitment to LGBTQ+ equality in the workplace.

2020
CME Group's 100% Score on Human Rights Campaign's Corporate Equality Index

CME Group maintained its perfect score of 100% on the Human Rights Campaign's Corporate Equality Index in 2020, demonstrating its continued dedication to promoting diversity and inclusion.

2021-05
CME Group announces permanent closing of the open-outcry trading pits in Chicago, except for the Eurodollar options pit

In May 2021, CME Group made the decision to permanently close the open-outcry trading pits in Chicago, except for the Eurodollar options pit which would remain operational.

2022
Record volume for CME Group futures and options

In 2022, CME Group achieved a record average daily volume of 23.3 million contracts for its futures and options.

2024
Establishment of CME Group Center for Innovation

The CME Group Center for Innovation was established to create and sponsor thought-provoking original programming that promotes significant innovation and creative thinking across various industries.

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CME Group
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