22 July 2018
Visit www.gemalto.com

Confusion reigns as CME mistakenly places test orders on live markets

15 September 2010  |  6977 views  |  0 chicago Skyline

CME Group says it inadvertently placed thousands of test orders on live energy and metals markets on its electronic trading platform yesterday.

The exchange operator says that for six minutes, starting at 2.38pm local time, the orders were placed on its Globex platform and not, as they should have been, into a quality assurance testing environment.

According to the Wall Street Journal, around 30,000 of the test orders went to the live energy and metals markets while tens of thousands of messages, including things like system updates and changes to markets or contracts, were also sent out by mistake.

As soon as the mistake was discovered "we began working with affected customers and implemented other corrective steps" says a statement. All trades executed during the period will stand, with none cancelled.

The Commodity Futures Trading Commission has also been kept up to date and CME will "address these transactions in accordance with its Rule 587".

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

HFT firm's faulty algo blamed for oil price surge

HFT firm's faulty algo blamed for oil price surge

26 August 2010  |  10198 views  |  0 comments
Fat finger error spooks London markets

Fat finger error spooks London markets

25 August 2010  |  12173 views  |  0 comments
CME migrates to new data centre

CME migrates to new data centre

20 August 2010  |  9060 views  |  0 comments
CFTC proposes co-location rule

CFTC proposes co-location rule

11 June 2010  |  9392 views  |  0 comments
SEC and CFTC propose joint IT task force

SEC and CFTC propose joint IT task force

20 October 2009  |  7291 views  |  0 comments
CME to offer low latency access to Globex

CME to offer low latency access to Globex

04 October 2006  |  10048 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit iliad-solutions.com/Visit info.nice.comVisit https://secure.vasco.com

Who is commenting?

Top topics

Most viewed Most shared
Calmejane quits Lloyds Bank to join SocGenCalmejane quits Lloyds Bank to join SocGen
13570 views comments | 6 tweets | 8 linkedin
Hong Kong plans September go-live for blockchain-based trade financeHong Kong plans September go-live for bloc...
11242 views comments | 9 tweets | 17 linkedin
Mastercard enlists Worldpay to push Vocalink's Pay by Bank appMastercard enlists Worldpay to push Vocali...
10112 views 19 comments | 15 tweets | 30 linkedin
IBM to test dollar-pegged 'stablecoin'IBM to test dollar-pegged 'stablecoin'
7448 views comments | 4 tweets | 14 linkedin
Bringing about new systems and faster payments globallyBringing about new systems and faster paym...
7265 views comments | 2 tweets | 7 linkedin

Featured job

to GBP £120K base, double ote, benefits
Frankfurt, Germany

Find your next job