The International Monetary Market (IMM), a related exchange created within the old
Chicago Mercantile Exchange
The Chicago Mercantile Exchange (CME) (often called "the Chicago Merc", or "the Merc") is an American derivatives marketplace based in Chicago and located at 20 S. Wacker Drive. The CME was founded in 1898 as the Chicago Butter and Egg Board ...
and largely the creation of
Leo Melamed, was one of four divisions of the
CME Group (CME), the largest
futures exchange
A futures exchange or futures market is a central financial exchange where people can trade standardized futures contracts defined by the exchange. Futures contracts are derivatives contracts to buy or sell specific quantities of a commodity or ...
in the United States, for the trading of
futures contract
In finance, a futures contract (sometimes called futures) is a standardized legal contract to buy or sell something at a predetermined price for delivery at a specified time in the future, between parties not yet known to each other. The item tr ...
s and
options on futures. The IMM was started in December 1971,
foreign exchange futures was started on May 16, 1972, and the IMM was merged into the CME in 1986. Two of the more prevalent contracts traded are
currency futures and
interest rate futures, specifically, 3-month
Eurodollar time deposits and 90-day U.S.
Treasury bills
United States Treasury securities, also called Treasuries or Treasurys, are government debt instruments issued by the United States Department of the Treasury to finance government spending as a supplement to taxation. Since 2012, the U.S. ...
. The other two CME divisions includes the Index and Option Market (IOM) and Growth and Emerging Markets (GEM). All products fall under one of these three divisions.
Product list by division
megroup.com
See also
* List of futures exchanges
This is a list of notable futures exchanges. Those stock exchanges that also offer trading in futures contracts besides trading in securities are listed both here and the list of stock exchanges.
Major derivatives exchanges
Below ...
* IMM dates
Notes
External links
Chicago Mercantile Exchange website
Futures exchanges
1971 establishments in Illinois
Settlement (finance)
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