CME Trading Is Restored to Wrap Up Week After Hours-Long Outage

Core Points - The Chicago Mercantile Exchange (CME) resumed trading operations after a significant technical outage that affected key financial markets [1][3] - The outage was caused by a cooling system malfunction at a data center, leading to a halt in trading for several hours [4] - CME's Globex Futures & Options markets, which account for 90% of CME Group's volume, reopened at 8:30 a.m. New York time, but trading volume remained light [1][3] Trading Impact - The outage lasted longer than a previous incident in 2019, highlighting the importance of CME Group and its electronic trading platform [3] - Market participants expressed frustration over the potential loss of trading sessions for millions of contracts linked to major indices like the S&P 500, Dow Jones, and Nasdaq 100 [3] - Following the resumption of trading, foreign-exchange and bond markets showed subdued activity, with the yield on 10-year Treasuries remaining stable at 3.99% [6] Market Reactions - Gold experienced erratic price movements due to thin liquidity, with the gap between bids and offers widening [7] - US crude and palm oil markets were also impacted, with some trading volumes shifting to alternative platforms as liquidity diminished [7] - The Canadian dollar showed strength against the US dollar following better-than-expected economic growth data from Canada [6]