It probably won’t surprise many to hear that we are living and benefiting from an era of convergence --from network access to data, to digitization, to cloud computing. Convergence has become the new black. With a desire for increased transparency and risk management, we are experiencing the convergence of OTC with common clearing and Trade (Swap Data) Repositories along with Swap Execution Facilities and the increased trading of standardized products.
Convergence is the name in cloud computing where advancements in compute, storage, and network are converging to enable new capabilities, decrease cost, and introduce scale previously thought unimaginable. Mobility is furthering that convergence with access from anywhere enabled itself from a convergence of voice, network, compute, and software. Just as cloud and mobile computing are enabling new business models and driving innovation, convergence in the financial industry is creating similar opportunities and new drivers for technology innovation. This is enabling enhanced risk management and market controls, greater predictability and consistency, and increased cost efficiency.
As an applied technology company, CME Group focuses on the application of technology to drive business value and a world-class customer experience. The convergence being experienced across our industry requires leadership to explore new technologies and respond to the business needs of the future. We recognize the need for leadership and are excited for the new tools and services we are delivering to improve your CME Group experience.
First, we have been investing in a best-of-breed platform with CME Direct to improve your trading experience and provide the tools you need to efficiently and effectively clear through CME Group. Focused primarily on Energy and Commodity markets, CME Direct not only supports sophisticated Options trading but also supports OTC with Clearport integration along with a single platform to access instant messaging through Pivot. CME Direct will be rolling out new crossing functionality bringing together the anonymity of pre-negotiated block trading along with the transparency and liquidity of the Globex central limit order book.
Additionally, we are enhancing our leading risk management capabilities across trading and clearing to enable the future of convergence. We have been working tirelessly to develop the exchange platforms of the future to further enhance risk management capabilities while providing greater transparency, predictability, and consistency. Our new, iLink Market Segment gateway will marry the crucial function of risk management with trade execution by providing inline pre-trade credit controls, unparalleled predictability and consistency, advanced market controls, and increased capacity and throughput. These are important capabilities that apply to all market constituents, irrespective of the trading style.
We are also in process of rolling out a customer portal, which will provide an enhanced customer experience with single sign-on across all CME Group applications, increased security with two-factor authentication, process and entitlement self-service, and be mobile-ready accessible from anywhere. Once the implementation is complete, customers across the industry will now be able to have one place to access all CME Group tools and services, be able to customize the look and feel of CMEGroup.com, and no longer need to remember multiple usernames. As an example, you will be able to access CME CORE which provides insights and analytics on CME Group initial margin requirements (CMEGroup.com/CORE) along with Firmsoft which provides a real time view into your working orders; all under one login and common navigation.
We at CME Group are focused on your customer experience ensuring you have the best and broadest set of tools and services at your fingertips to help you make the most prudent trading decisions utilizing our industry leading products and services. We are always looking for feedback and your insights. If you have any questions or suggestions, please email your NIBA exchange representative, Barbara Schmidt-Bailey <Barbara.Schmidt-Bailey@cmegroup.com>.
