Chicago Mercantile Exchange Chairman M. Scott Gordon today outlined his commitment to moving selected CME futures contracts to an electronic trading platform, possibly in partnership with other exchanges.
``Interviews and analyses have provided us with a clear message. Our customers are demanding an electronic alternative for some of our products,'' Mr. Gordon said in a letter sent to CME members today.
Ellen Resnick, a spokeswoman for the exchange, declined to say which contracts are candidates for electronic trading.
Mr. Gordon's letter also described the CME's effort to seek partnerships with other exchanges and market participants, and to establish alliances with technology vendors.
Ms. Resnick declined to comment on reports that the CME is in discussions to merge with the Chicago Board of Trade, but said CME officials are in wide-ranging discussions on different strategic subjects with a number of institutions.