Globex primarily refers to the electronic trading platform operated by the Chicago Mercantile Exchange (CME) Group. Globex is a global electronic marketplace that facilitates the trading of a wide range of financial products, including futures and options contracts. Below is an overview of Globex, covering what it is, how it works, and a brief history.

What is Globex?

**1. Electronic Trading Platform:**
– Globex is a state-of-the-art electronic trading platform that enables market participants to trade financial derivatives, such as futures and options contracts, in a fully electronic and automated manner.

**2. Product Range:**
– It supports a diverse array of financial instruments, including equity index futures, commodity futures, interest rate futures, and currency futures, among others.

**3. Global Access:**
– Globex provides access to a global marketplace, allowing participants from around the world to trade financial instruments without being physically present on a trading floor.

**4. Continuous Trading:**
– Trading on Globex occurs almost 24 hours a day, five days a week. It provides continuous electronic trading, allowing market participants to react to news and events as they happen.

**5. Order Types:**
– Users can place various types of orders, including market orders, limit orders, and stop orders, using the electronic platform.

### How It Works:

**1. Trading Hours:**
– Globex operates for extended hours to accommodate participants in different time zones. It typically opens on Sunday evening and closes on Friday afternoon (Central Time).

**2. Connectivity:**
– Market participants connect to Globex through secure electronic channels, using trading software provided by their brokerage firms or financial institutions.

**3. Order Matching:**
– Orders placed on Globex are matched electronically based on price and time priority. The platform uses a sophisticated matching engine to execute trades efficiently.

**4. Real-Time Data:**
– Participants receive real-time market data, including price quotes, trade execution information, and other relevant market information.

### History:

**1. Launch:**
– Globex was launched by the Chicago Mercantile Exchange (CME) in 1992 as one of the first electronic trading platforms in the futures and options industry.

**2. Continuous Development:**
– Over the years, Globex has undergone continuous development and enhancements, incorporating technological advancements to improve speed, reliability, and functionality.

**3. Merger with CME and Expansion:**
– The Chicago Mercantile Exchange (CME) Group, which operates Globex, has undergone mergers and expansions. It merged with the Chicago Board of Trade (CBOT) in 2007 and later with the New York Mercantile Exchange (NYMEX) in 2008.

**4. Global Presence:**
– Today, the CME Group is one of the largest derivatives marketplaces globally, and Globex serves as a key component of its electronic trading infrastructure.

Since its launch, Globex has undergone several upgrades and enhancements to meet the evolving needs of market participants. The CME Group, formed through the merger of the Chicago Mercantile Exchange and the Chicago Board of Trade in 2007, continues to operate and expand the Globex platform.