Chicago Mercantile Exchange to open Belfast operation
January 12th: Chicago Mercantile Exchange (CME Group) is to establish an office in Belfast. With headquarters in Chicago, CME Group is one of the world's leading and most diverse derivatives marketplaces. The Group has confirmed that it intends to open its office in Belfast in the next few months. It already has a European headquarters in London, which employs 170 people.
The company is building up its European presence, which already includes an office in London which employs 170 people. Allan Schoenberg, director of corporate communications at CME Group, said that while the company’s London office is its European headquarters and services a range of projects, the Belfast office will primarily be devoted to IT work including back office software development.
Schoenberg noted that Belfast is particularly attractive because of its time zone, which overlaps the trading hours of both the US and Asian markets, and also pointed to the exceptional IT expertise and resources available.
The Chicago Mercantile Exchange, one of the world's oldest exchanges, trades several types of financial instruments, offers trading in alternative investments, and has the largest number of options and futures contracts open of any futures exchange in the world.
Welcoming the decision, first minister Peter Robinson announced 'This new investment is another significant vote of confidence for Northern Ireland and reflects the confidence that international players have in this region. It follows from the highly successful inward investment trip to the US by myself and the deputy First Minister in September 2011 when we met senior Executives of the company to promote the many benefits that Northern Ireland has to offer. This announcement is a good strategic fit with the Executive’s recently published draft program for Government which puts economic growth at the heart of Northern Ireland’s future.'
The Chigaco Mercantile Exchange is one of the world's oldest exchanges and began its life as an exchange for commodities. Today CME Group trades several types of financial instruments, offers trading in alternative investments, and has the largest number of options and futures contracts open of any futures exchange in the world.
'The IT and financial services sectors are key drivers of our economy and the CME Group will join a growing cluster of world-class companies based here, and will further enhance our reputation as a premier location for this kind of investment,' said deputy first minister Martin McGuinness.
The New York Stock Exchange also has a Belfast base that currently employs approximately 400 people primarily focusing on high level back office work.
The company is building up its European presence, which already includes an office in London which employs 170 people. Allan Schoenberg, director of corporate communications at CME Group, said that while the company’s London office is its European headquarters and services a range of projects, the Belfast office will primarily be devoted to IT work including back office software development.
Schoenberg noted that Belfast is particularly attractive because of its time zone, which overlaps the trading hours of both the US and Asian markets, and also pointed to the exceptional IT expertise and resources available.
The Chicago Mercantile Exchange, one of the world's oldest exchanges, trades several types of financial instruments, offers trading in alternative investments, and has the largest number of options and futures contracts open of any futures exchange in the world.
Welcoming the decision, first minister Peter Robinson announced 'This new investment is another significant vote of confidence for Northern Ireland and reflects the confidence that international players have in this region. It follows from the highly successful inward investment trip to the US by myself and the deputy First Minister in September 2011 when we met senior Executives of the company to promote the many benefits that Northern Ireland has to offer. This announcement is a good strategic fit with the Executive’s recently published draft program for Government which puts economic growth at the heart of Northern Ireland’s future.'
The Chigaco Mercantile Exchange is one of the world's oldest exchanges and began its life as an exchange for commodities. Today CME Group trades several types of financial instruments, offers trading in alternative investments, and has the largest number of options and futures contracts open of any futures exchange in the world.
'The IT and financial services sectors are key drivers of our economy and the CME Group will join a growing cluster of world-class companies based here, and will further enhance our reputation as a premier location for this kind of investment,' said deputy first minister Martin McGuinness.
The New York Stock Exchange also has a Belfast base that currently employs approximately 400 people primarily focusing on high level back office work.