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Chicago Mercantile Exchange (CME)

The Chicago Mercantile Exchange (CME) is a global derivatives marketplace based in Chicago, Illinois, United States. It is one of the largest and most diverse financial exchanges in the world, offering futures and options contracts on a wide range of asset classes, including commodities, interest rates, equities, and foreign exchange.

The CME was founded in 1898 as the Chicago Butter and Egg Board, and it has since evolved to become a leading financial institution. It merged with the Chicago Board of Trade in 2007, and in 2012, it acquired the New York Mercantile Exchange (NYMEX).

The CME operates electronic trading platforms for its products, allowing traders from around the world to participate in its markets. It also provides clearing and settlement services, ensuring that all trades are processed smoothly and efficiently.

The CME is known for its role in setting benchmark prices for commodities such as crude oil, gold, and agricultural products. Its futures contracts are widely used by producers and consumers of these commodities to hedge against price fluctuations and manage risk.

Overall, the CME is a key player in the global financial markets, providing a wide range of products and services to market participants around the world.