"With E-mini S&P 500 and NASDAQ-100 E-mini products, our CyberTraders now have access to liquidity and trading opportunities not found elsewhere in the equities market," said Jim Hackley, CEO of CyberTrader. "CME and CyberTrader are pioneers in electronic direct access trading, and our partnership opens the derivatives market to a new segment of highly active equity market traders."
CyberTraders can place market and limit orders on E-mini S&P 500 and E-mini NASDAQ-100 futures and monitor all their trading activity right from their desktops through CyberTrader's advanced Account Management, which tracks pending orders and indicates the execution status of the order as it changes, in addition to identifying completed trades, current positions and other pertinent account statistics. These capabilities, coupled with the superior analytical and risk management tools, momentum indicators, and advanced Point & Figure charting found in the recently launched CyberTrader Pro® 4.0 trading platform, provide CyberTraders with the essential tools they need to be successful and give them even greater control and visibility when trading.
"The E-mini products have become a tremendous trading, asset allocation and risk management vehicle that offers liquidity, cost efficiency and broad equity market exposure to its varied market participants," said CME Chairman Terry Duffy. "We believe that joining forces with CyberTrader, a leader in equities brokerage for active traders, will bring these important products to an entirely new market while serving our goal of increasing our distribution through our GLOBEX platform."
CME launched the E-mini S&P 500 futures contract in 1997, based on the S&P 500 index futures contract, which became the first successful stock index futures contract when it was introduced in 1982. The E-mini product trades exclusively electronically on CME's GLOBEX platform and is one-fifth the size of the standard-size contract, making it appealing to a broader trading community. The early success of the E-mini S&P contract yielded the 1999 introduction of the CME E-mini NASDAQ-100 futures contract, which is also one-fifth the size of its larger counterpart. The two E-mini products are the fastest-growing contracts in the history of the exchange, with combined average daily volume in June of more than 1 million contracts. Currently, CME has approximately a 95 percent market share in all U.S.-listed stock index futures, based on the number of contracts traded.
