CME Group to Provide On-Demand OTC Data with Xignite

First Published Thursday, 5th August 2010 02:06 pm from Xand : Joel York

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We're proud to announce that href="http://www.cmegroup.com" target="_blank"

rel="nofollow">CME Group, the world's leading and

most diverse derivatives marketplace, is jumping on the cloud

computing bandwagon and has agreed to use the XigniteOnDemand

href="http://www.xignite.com/Solutions/On-Demand-Market-Data-Web-Services.aspx"

target="_blank">market data cloud platform to

deliver OTC data from the cloud.

Brian

McElligott, Managing Director of Information Products at CME

Group is quoted in the href="http://www.xignite.com/News/PressRelease.aspx?articleid=207">press

release as saying "With the ongoing development of our

multiple OTC product and service offerings, and the need to

deliver this data to customers with continued market

transparency, the Xignite platform will be a quick and

cost-effective way to get OTC pricing and reference data to our

global market participants."

>

Pete Harris of the A-Team

Group interviews CME Group, BG Cantor and Xignite.

The

A-Team Group href="http://www.a-teamgroup.com/article/a-team-insight-quarterly-issue-12-q2-2010/"

target="_blank" rel="nofollow">gave the cloud prime

coverage in their recent Q2 issue,

and Pete

is launching a new "Market Data Cloud"

channel, so stay tuned to that.

CME Group

plans to offer on-demand access to end-of-day OTC settlement,

volume and open interest data to support markets available

through CME ClearPort®, a set of flexible clearing services

open to OTC market participants to substantially mitigate

counterparty risk and provide neutral settlement prices across

asset classes. CME ClearPort currently clears more than 500,000

contracts daily, including Credit Default Swaps (CDS), energy,

metals, agricultural commodities and foreign currencies. The

service brings together more than 10,000 global users across the

world including banks, hedge funds, trading entities, Inter

Dealer Brokers (IDBs), Future Commission Merchants (FCMs), and

clearing firms.

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