CHICAGO, April 28, 2011 /PRNewswire/ -- CME Group, the world's leading and most diverse derivatives marketplace, announced that it will further support the development of new traders globally by expanding and renaming its Emerging Market Incentive Program . The New Trader Incentive Program will replace the Emerging Market Incentive Program, effective May 1, 2011, and will be extended to April 30, 2012.
"The continued evolution of this program emphasizes CME Group's commitment to listening to customer feedback and growing our business internationally," said Bryan Durkin, Chief Operating Officer and Managing, Director Products and Services. "As demand for our benchmark products in non-U.S. trading hours have grown, we remain dedicated to providing access and greater liquidity for our customers around the world."
CME Group has continued to see growth and adjust its business globally in response to customer demand. Some recent international growth highlights include:
- Last quarter, average daily volume grew 27 percent to 1.75 million contracts during the quarter during non-U.S. trading hours, an indication of the deepening liquidity in our globally relevant products;
- The company recently hired its first two non-U.S. product Managing Directors for FX and Metals, both based out of its London office; and,
- CME Clearing Europe, a wholly owned London-based subsidiary of CME Group and FSA-regulated clearing organization, announced that it will begin clearing more than 150 over the counter (OTC) energy and commodity derivative products beginning Friday, May 6.