The Chicago Mercantile Exchange (CME) is establishing a telecommunications hub in Singapore in a bid to provide customers in the Asia Pacific region with expanded access to its electronic trading platform Globex.
CME says the hub, which will be launched in the second quarter of 2005, will reduce connectivity costs for customers in the Pacific Rim.
Customers using the Singapore hub will connect to Globex via circuits ordered through approved local telecommunication vendors. Customers will determine the bandwidth size for their connections, as well as the number and type of circuits.
Terry Duffy, chairman, CME, says: "Adding this telecommunications hub in Singapore will reduce connectivity charges to CME Globex and enable us to continue to attract new customers to our electronic marketplace."
CME has established similar hubs in Europe, with six hubs launched this year in key European financial centres following the opening of a London datacentre in January 2002.