CME Rolls Out Hand-Held Units To Locals For Risk Management

EXCHANGES

CHICAGO--The Chicago Mercantile Exchange has rolled out a new hand-held device for traders in its currency pits. The unit enables independent floor traders, or locals, to access the cash currency market through the exchange's GFX Corporation, while trading via open outcry in the currency pits.

GFX is a wholly-owned subsidiary of the CME, with its own team of traders. GFX traders make markets in foreign exchange futures and options on a 24-hour basis.

The locals' hand-held device therefore prov