News, analysis and personal reflections on the markets & the financial sector

Saturday, May 8, 2010

CME will not cancel any trades after Thursday's market gyrations

(AP) — CME Group Inc., which operates the Chicago Mercantile Exchange and the Chicago Board of Trade, said its markets functioned properly on Thursday during Wall Street's wild swing, and that it was not canceling any trades.

The company said it saw "significant market activity due to global macroeconomic conditions" on Thursday.

Some trades on Nasdaq and the New York Stock Exchange's electronic platform were canceled.
But CME Group spokeswoman Anita Liskey said on Friday that none of Thursday's trades would be canceled, because there were no abnormalities on its exchanges.

"It does not appear that CME Group clearing firms or customers experienced any significant technological failures or trading errors during this timeframe" of 1 to 2 p.m. CDT, when the market was going through its swings.

CME said all of its clearing members remain in good standing and have met their financial obligations to the CME Clearing House.

No comments: