Trading in US equity index products at Chicago Mercantile Exchange (CME) is expected to occur no earlier than Friday, the exchange announced today. The decision to resume trading in these products is being coordinated with other US financial markets and regulatory agencies and will be announced as soon as it is determined.
Trading of the Nikkei 225 will resume today in order to accommodate the last trading day of the expiring September contract.
As announced earlier, floor trading in other CME products - including its interest rate, foreign exchange and commodity markets - will resume at their normal times on September 13. Electronic trading on CME's Globex 2 electronic trading system will re-open at the same time as open outcry trading.
A moment of silence will be observed on CME's trading floors at 11:00 a.m. (central time) to recognise the victims and survivors of yesterday's tragic events.
CME officials also reported that the CME Clearing House is fully functioning and conducting normal business operations.
"We completed our intra-day and end-of-day settlement cycles on Tuesday and we successfully completed our margin clearing cycle Wednesday, Sept. 12, 2001," said Phupinder Gill, president of the CME Clearing House. "All pay and collect activities have been confirmed in a timely manner by our settlement banks." Of CME's more than $30 billion in performance bond deposits, more than 12 percent is excess collateral.
"Our trade execution and clearing facilities are ready to handle the commencement of normal trading activity in our markets," said James McNulty, president and CEO.
Due to heightened security measures, all persons entering CME will be required to enter the Monroe St. doors at 30 S. Wacker Drive and to present appropriate identification through the rest of this week. CME's Visitors Galleries will be closed for the rest of the week. The building's parking garage will open be open from 4:00 a.m. to 6:00 p.m., and only those with building identification and parking stickers will be permitted in the garage. CME officials recommend that members and staff arrive early to allow for the additional security measures.
CME has established a recorded telephone line for information about CME's markets and business operations: 312/930-2324. The recording will be updated as there are new developments. News releases and updates are also posted on CME's Web site, www.cme.com.
In coordination with other US financial markets, CME open outcry and electronic markets remained closed until this morning. Trading in all of CME's markets was suspended as of 9:15 a.m. Sept. 11. Open outcry trading in CME's US equity and agricultural products did not take place Tuesday. Electronic trading on Globex 2 of equity markets was suspended as of 8:30 a.m. Tuesday.