One-fifth of CME clearing members hit by Ion hack

Advisory committee heard CFTC believed it could “play a more direct role” in cyber security practices

CME Group

Around 20% of all CME Group clearing members were affected by the Ion ransomware event, an executive at the clearing house has told a public hearing.

Ion Group, which supplies software used to process cleared derivatives trades, had to shut down access to some of its services on January 31 after hackers seized control of its servers.

The outage affected 42 Ion clients, forcing some to process trades manually and delay regulatory reporting. CME has 67 clearing members.

Julie Holzrichter, CME

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact info@risk.net to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Risk.net? View our subscription options

If you already have an account, please sign in here.

Register

Want to know what’s included in our free registration? Click here

This address will be used to create your account

Calibrating interest rate curves for a new era

Dmitry Pugachevsky, director of research at Quantifi, explores why building an accurate and robust interest rate curve has considerable implications for a broad range of financial operations – from setting benchmark rates to managing risk – and hinges on…

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here