Reuters Halts Globex Test, Jeopardizing Accord On System
PROPRIETARY EXECUTION
Reuters Holdings PLC suffered a major embarrassment last week after a 250-position beta test of the Globex futures- trading system was abandoned soon after its start. Reuters is developing Globex for the Chicago Mercantile Exchange and the Chicago Board of Trade.
The failed test could delay the signing of a final Globex agreement between the exchanges and Reuters, possibly pushing back the commercial launch of the system, which originally had been scheduled for 1989.
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