The International Monetary Market (IMM), a related exchange created within the old Chicago Mercantile Exchange and largely the creation of Leo Melamed, was one of four divisions of the CME Group (CME), the largest futures exchange in the United States, for the trading of futures contracts 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.[1][2][3][4] 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. 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.[5]

See also

Notes

  1. ^ Evolution Of The International Monetary Market - Leo Melamed
  2. ^ "Timeline of CME Achievements". www.cmegroup.com. Retrieved 1 July 2023.
  3. ^ "History of FX at CME Group". www.cmegroup.com. Retrieved 1 July 2023.
  4. ^ Mehrling, Perry (2005), Fischer Black and the revolutionary idea of finance, John Wiley and Sons, p. 167, ISBN 978-0-471-45732-9
  5. ^ Product list by division cmegroup.com[dead link]

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