S&P futures and global options markets warrant close scrutiny by IROs
The date was December 3, 1998. After trading in Standard & Poor's popular 'e-mini' futures ended, Chicago Mercantile Exchange chairman Scott Gordon looked at the numbers with a little surprise. A staggering 35,989 futures contracts had changed hands that day, marking a new single day volume record at the exchange.
'It was unbelievable,' recalls Gordon. 'Trading volume in S&P 500 futures had surpassed our greatest expectations.'
The e-mini futures contracts were the most recent attempt
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