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In the News: Chicago retains role as capital of derivatives industry


When the Chicago Mercantile Exchange launched its electronic transaction system, its chosen name of Globex was a clear indication of how it saw the business developing.

Globex allowed people anywhere in the world to buy and sell futures as easily as the traders shouting in Chicago’s octagonal pits. The technology also signalled the beginning of the end of the open outcry system that had been operating in Chicago since the 19th century.

Yet, while the marketplaces have largely become virtual, Chicago has retained its role as capital of the listed derivatives industry.

Read more at Financial Times.