(Yicai Global) Dec. 11 -- The Global Big Data Exchange recently reached an agreement to expand its business by tapping into the Chicago Mercantile Exchange's resources.
CME's global business data will improve the data structure of GBDEx, China News Service quoted Wang Sanshou, executive president of the Guiyan-based group, as saying. The two parties will promote the integration of business data in the Chinese and US markets and around the world to accurately create Big Data applications and serve the diversified needs of the market, Wang said.
GBDEx began operating in April 2015. It was the first innovative exchange in China to provide nationwide data transactions. It has over 1,500 member companies, with more than CNY100 million (USD15.12 million) in turnover, trading nearly 4,000 data products.
CME is a world-leading diverse commodity exchange with over a century of history. It handles an average of 3 billion futures and options contracts per year. Traders worldwide are able to access the broadest array of the most liquid financial derivatives markets available anywhere on its electronic trading platform, CME Globex.