Update: CME Buys Pivot for Hybrid IM Data, Trading

Michel Everaert, managing director, OTC Solutions division, CME

Derivatives exchange operator CME Group last week acquired Pivot Inc.—a provider of instant messaging technologies for trade negotiation, price discovery and liquidity aggregation—for an undisclosed sum, to provide a more tightly integrated messaging and price handling service as part of its CME Direct hybrid platform for trading listed and over-the-counter derivatives, but will continue to support standalone sales of the vendor’s software in listed equity markets, officials say.

Primarily, CME

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