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CME Group Respond to Data Leak Claims

03 May 2013
CME Group

US - CME Group Inc. has responded to an article in the Wall Street Journal (WSJ) earlier this week, claiming that a data leak by the group, exposed details of derivatives trading that were intended to be kept private.

The WSJ claim that CME made details public early last month. D.E. Shaw Group was one of many firms reportedly affected by the data leak.

Following the WSJ article, CME Group released the following statement: "While there can be instances of inconsistencies with any technology, CME Group is continually making improvements to our trading platform to increase efficiencies, including variability between the time a firm or customer receives its trade confirmation and it appears on the public data feed.

"Out of the more than 300 million messages that come into our platform each day, there may be times when customers can experience a latency of a few milliseconds between the time they receive their trade confirmations and when that information is accessible on the public feed. However, these instances are not consistent and vary across asset classes.

"At CME Group, our goal is to bring variability as close to zero as possible and we have made significant steps to address latencies related to trade confirmations. At the end of last year, we strengthened the overall performance of our CME Globex trading platform by reducing order response times and limiting variability within and across asset classes.

"In the first quarter of 2013, we upgraded our match-engine hardware. Through the remainder of this year, we will be implementing additional hardware, software and architectural upgrades – all designed to further reduce potential discrepancies in processing times, make the overall system performance more predictable, and enhance the CME Globex trading experience for our customers."

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