Globex definition

Globex means the CME Globex® electronic trade execution system, including any licensed software that is a part of it from time to time, and any successor electronic trading system thereto.

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Globex was an electronic trading system used by COMEX and NYMEX, which allowed market participants to trade futures contracts from anywhere in the world. The CME Group operated Globex using computer servers located in Chicago and Aurora, Illinois.

Globex has the meaning set forth in the Recitals.

Examples of Globex in a sentence

• If the Spot price for futures contracts and options for Gold futures averages over $5000.00 per ounce for 90 consecutive days, the Storage Rate for Gold may be adjusted (using exchanges such as the CME Globex trading platforms, LBMA, etc.).

• If the Spot price for futures contracts and options for Silver futures averages over $50.00 per ounce for 90 consecutive days, the Storage Rate for Silver may be adjusted (using exchanges such as the CME Globex trading platforms, LBMA, etc.).

• Following the Effective Date, information technology personnel at CME and NYMEX shall cooperate to develop procedures for sharing information as to material modifications to the CME Systems or CME Policies that are likely to materially affect trading in the NYMEX Globex Contracts.

• Globex access fees are subject to change from time to time by CME in its sole discretion and may vary depending upon the means or type of access.

• For the avoidance of doubt, CME shall operate Globex as necessary for the trading of NYMEX Globex Contracts pursuant to this Section even on days when CME Globex Contracts are not available for trading on Globex due to a CME holiday (but subject to the limits of Section 7.1.1 with respect to CME’s daily or weekly operational and maintenance cycles).

• The joint marketing committee will be charged with overseeing product marketing efforts, provided that the committee shall make recommendations and oversee the relationship between NYMEX and CME as to product marketing, without having any direct authority with respect to the marketing of the NYMEX Globex Contracts, except as NYMEX may allow from time to time.

• CME shall be authorized in its discretion to print summary Market Data in its “Daily Bulletin” (in hard copy and/or on CME’s web site), provided that CME shall state in such publication that such Market Data is the property of NYMEX and that commercial redistribution of such Market Data and use of such Market Data other than in connection with trading the NYMEX Globex Contracts are prohibited.

• CME shall similarly use reasonable efforts to update its Marketing Materials with respect to any change in the brand names or contract specifications for the NYMEX Globex Contracts.

• Except as specifically set forth elsewhere in this Agreement, the CME Policies shall apply to the trading of the NYMEX Globex Contracts.

• CME understands and agrees that such malfunctions may occur from time to time and such temporary conditions shall not be deemed a material breach of this Agreement by NYMEX unless (1) where other NYMEX Products are similarly affected, NYMEX fails to restore affected services as to the NYMEX Globex Contracts on the same general schedule as it restores such services as to other NYMEX Products or (2) in all cases, NYMEX fails to restore affected services within five (5) Business Days.

More Definitions of Globex

Globex means Globex Mining Enterprises Inc.; “GMR” means gross metal royalty;

Globex means Globex Mining Enterprises Inc., a corporation continued under the QBCA;

Globex means Globex Mining Enterprises Inc.