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May 25, 2012 ||
Brian McElligott ||
Earlier this week, CME Group’s market data team was given the best Market Data Provider award in the Exchange category at the Incisive Media/Inside Market Data Awards in New York. The award is especially meaningful since it is voted on by the people who use our data, and at a time when they need more data, and they need it faster.
It’s instructive to show just how much data we’re talking about. On May 23, we processed over 105 million data messages. This includes bids, offers, trades, and anything else that produces a response to order entry.
In our industry, data is impacted by all kinds of information. A government unemployment report, a shift in expected weather patterns, or political change in key parts of the world can spike data usage in an instant. And in an era of constantly shifting economic forecasts, reliable and timely data is proving more than ever to be an extremely important tool to help businesses manage risk and markets to grow.
Brian McElligott is the managing director of market data and information services at CME Group.
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