CME Upgrade Soothes Critics Who Viewed Prior System as Unfair
- Data lines connecting customers to CME had varying speeds
- ‘The new architecture is flat and fair,’ one trader said
This article is for subscribers only.
CME Group Inc., the world’s largest exchange operator, just completed an upgrade traders said would eliminate a shortcoming that gave some participants an advantage.
Under the old system, data connections that linked customers to CME -- where key products like Treasury futures and contracts tied to the Standard & Poor’s 500 Index trade -- had noticeably different speeds, opening up the potential for gaming, according to traders and other experts. Those who knew how to gain faster access could increase their odds of being first in line to trade.