Globex Stumbles In Recent Internal Tests Mid-February Tests Scrapped, More Delays?

TECHNOLOGY

The long-delayed Globex trading system ran into what one industry source close to the project called a "major problem" during an internal test last month, raising the prospect of further delays in the system's startup. A second round of internal tests, scheduled for mid-February, was scrubbed, sources close to the project add, for a variety of reasons relating to test-site availability and problems during the first test.

Globex is the Chicago Mercantile Exchange's (CME) proposed electronic or