Gibraltar's FCT delivers direct access to Globex
29 April 2004 | 1673 views | 0
Chicago Mercantile Exchange Inc. (CME) today announced that FCT, an independent proprietary trading and clearing firm, is the first company to initiate direct access and trading from its office in Gibraltar to CME's electronic trading platform, GLOBEX®, through the exchange's newly opened telecommunications hub in the region.
"Linking directly to CME's electronic trading platform provides us with important connectivity and cost savings," said Roger E. Carlsson, founder and Chairman of FCT. "Using GLOBEX from Gibraltar provides us with the ability to trade at any time and this connection is a significant addition to our business."
"Gibraltar continues to grow as an influential trading location in the world and we are delighted that firms like FCT can now access GLOBEX directly from this location," said Arman Falsafi, CME Managing Director, Global Electronic Trading & Data. "Enabling fast and efficient connectivity to GLOBEX through this and other such facilities is in line with our growth strategy in Europe and our ongoing commitment to serving our European customers."
On April 1, 2004, CME officially launched four new European telecommunications hubs in Amsterdam, Dublin, Frankfurt and Gibraltar, consistent with the company's November 2003 commitment to open these facilities. Customers using the hubs will connect to CME's GLOBEX platform via a 2 megabit (E1) circuit ordered through the carrier of their choice. European customers using the new hubs can reduce their GLOBEX connectivity charges by as much as 75 percent of current costs. CME installed its first hub in London in January 2002. Two additional telecommunications hubs will open in Milan and Paris later this spring.