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CME Direct: "a very compelling development for the oil market"

London, 22 May 2012

"Having the CME provide and maintain this excellent technology for the global provision of tradable markets on a hybrid model, with full Clearing and STP, is a very compelling development for the oil market,” according to Michael Anderson at Tradition, following the release today detailing the launch of CME Direct, a new technology that offers side?by?side trading of exchange?listed and over?the?counter market.

“Experiments to capture OTC oil swaps on screens have been met with very limited success by a number of groups in the sector. From these efforts, one of the main messages that we’ve received from traders is the need to see aggregated liquidity from the key brokers in one venue. The CME, and the majority of the main oil OTC brokers, have listened to these requirements when developing the platform," adds Anderson.

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