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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