CME Group Shares Steady After Hours-Long Trading Outage

CME +0.47% NDAQ +1.37% CBOE +1.01% ^GSPC +0.37%

CME Group headquarters in Chicago.

(Bloomberg) -- Shares in CME Group Inc. were mostly steady Friday after a technical glitch froze futures trading on the Chicago Mercantile Exchange before it began restoring most operations.

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CME shares moved in a narrow range, while shares of peers New York Stock Exchange-owner Intercontinental Exchange Inc., Nasdaq Inc. and Cboe Global Markets Inc. nudged higher alongside the broader market.

The exchange’s Globex Futures & Options markets, which handles futures, options, and commodities trading and accounts for 90% of CME Group’s volume, opened at 8:30 a.m. New York time, with trades reported in US futures and options. The S&P 500 Index gained Friday.

Futures and options trading on the Chicago Mercantile Exchange were frozen for several hours due to a data center fault, leaving market participants unable to trade contracts tracking the S&P 500 and multiple other assets.

The US stock market was shut for Thanksgiving on Thursday. The day after the holiday typically sees relatively light trading volumes as the stock exchanges trade only until 1 p.m. in New York, compared to their typical closing time of 4 p.m. local time.

The halt had gone on longer than a similar outage due to a technical error back in 2019 and underscores the reach of CME Group and its Globex electronic trading platform.

It triggered widespread frustration as market participants contemplated the prospect of a lost trading session for millions of contracts tracking the S&P 500, Dow Jones Industrial Average and Nasdaq 100 on one of the world’s largest derivatives exchanges.

(Updates throughout.)

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