CME Group(US:CME) Di Yi Cai Jing·2025-11-29 08:11Group 1 - The Chicago Mercantile Exchange (CME) experienced a significant system failure, halting trading across global forex, commodities, and stock futures for nearly 11 hours, marking the longest outage in recent years [2][3] - The outage was caused by a cooling system issue at the CyrusOne data center in Chicago, affecting major brokers like Saxo Bank, XTB, and eToro, which suspended trading services [3] - Following the resumption of trading, silver prices surged to a historic high, raising speculation about the potential impact on the market, particularly regarding the dual industrial and financial nature of silver [2][5] Group 2 - CME's average daily trading volume for derivatives reached 26.3 million contracts in October, indicating the scale of trading activity prior to the outage [4] - The interruption coincided with silver futures reaching over $54, leading to widespread speculation on social media about a connection between the outage and silver price movements [5][6] - Post-outage, COMEX silver futures rose over 6% to surpass $57 per ounce, with year-to-date gains approaching 100% [6][7] Group 3 - Shanghai Futures Exchange (SHFE) silver inventories fell to their lowest level since 2015, with a significant drop in silver stocks reported [7][9] - Industrial demand, particularly from solar panel production, is supporting silver prices, with a backwardation structure indicating short-term supply pressures [9] - Concerns exist regarding potential tariffs on silver by the U.S. government, which could exacerbate global supply tightness amid low inventories in China [10]