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Global futures reopen after exchange operator CME suffers multi-hour disruption

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Global futures reopen after exchange operator CME suffers multi-hour disruption
  • US, Nikkei stock futures, West Texas Crude futures affected
  • Cooling issue at CyrusOne data centre in Chicago caused outage
  • Traders flying blind without prices, expect market volatility
  • Some FX trading resumes on EBS

SINGAPORE/LONDON, Nov 28 (Reuters) – Global futures markets were disrupted for several hours on Friday after CME Group, the world’s largest exchange operator, suffered one of its longest outages in years, halting trading across stocks, bonds, commodities and currencies.

By 1335 GMT, trading in foreign exchange, stock and bond futures , , as well as other products had resumed, after having been knocked out for over 11 hours, according to LSEG data.

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CME blamed the outage on a cooling failure at data centres run by CyrusOne, which said its Chicago-area facility had affected services for customers including CME (CME.O), opens new tab.

The disruption stopped trading in major currency pairs on CME’s EBS platform, as well as benchmark futures for West Texas Intermediate crude , Nasdaq 100 , Nikkei , palm oil and gold , according to LSEG data.

‘A BLACK EYE’

Trading volumes have been thinned out this week by the U.S. Thanksgiving holiday and with dealers looking to close positions for the end of the month, the outage posed a risk of spurring volatility, market participants said.

“It’s a black eye to the CME and probably an overdue reminder of the importance of market structure and how interconnected all these are,” Ben Laidler, head of equity strategy at Bradesco BBI, said.

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“We complacently take for granted much of the timing is frankly not great. It’s month end, a lot of things get rebalanced.”

Still, the timing of Friday’s outage, during a shortened U.S. equity trading session with thinner volumes, helped limit its market impact.

“If there was to be a glitch day, today’s probably a good day to have it,” Joe Saluzzi, co-manager of trading at Themis Trading in Chatham, New Jersey, said.

Futures are a mainstay of financial markets and are used by dealers, speculators and businesses wishing to hedge or hold positions in a wide range of underlying assets. Without these and other instruments, brokers were left flying blind and many were reluctant to trade contracts with no live prices for hours on end.

“Beyond the immediate risk of traders being unable to close positions – and the potential costs that follow – the incident raises broader concerns about reliability,” said Axel Rudolph, senior technical analyst at trading platform IG.

A few European brokerages said earlier in the day they had been unable to offer trading in some products on certain futures contracts.

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“My anticipation is that life goes on but everybody will have yet another look at their data centre arrangements and invest more in ensuring reliable supply because the importance of data center uptime is higher and higher,” Mikhail Zverev, Portfolio Manager at Amati Global Investors in London.

Regulators are tracking the situation, with both the Commodity Futures Trading Commission and Securities and Exchange Commission confirming they are aware of the issue and conducting ongoing surveillance.

BIGGEST EXCHANGE OPERATOR

CME is the biggest exchange operator by market value and says it offers the widest range of benchmark products, spanning rates, equities, metals, energy, cryptocurrencies and agriculture.

Average daily derivatives volume was 26.3 million contracts in October, CME said earlier this month.

The CME outage on Friday comes more than a decade after the operator had to shut electronic trade for some agricultural contracts in April 2014 due to technical problems, which at the time sent traders back onto the floor.

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More recently in 2024 outages at LSEG and Switzerland’s exchange operator briefly interrupted markets.

CME’s own shares were up 0.4% in premarket trading.

Reporting by Saqib Iqbal Ahmed and Laura Matthews in New York, Chris Prentice in Washington, Ankur Banerjee, Tom Westbrook, Rae Wee and Florence Tan in Singapore, Amanda Cooper, Lucy Raitano, Vidya Ranganathan and Alun John in London; Toby Sterling in Amsterdam and Pranav Kashyap in Bangalore; Editing by Alison Williams, Elaine Hardcastle and Alistair Bell

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World leaders split over military action as US-Israel strike Iran in coordinated operation

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World leaders split over military action as US-Israel strike Iran in coordinated operation

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World leaders reacted swiftly Saturday after the United States and Israel launched strikes on Iran, exposing a deep divide between governments backing the attack on Iran and those warning the attacks risk a wider regional war.

In a joint statement, Canada’s Prime Minister Mark Carney and Foreign Minister Anita Anand voiced firm support saying, “Canada supports the United States acting to prevent Iran from obtaining a nuclear weapon and to prevent its regime from further threatening international peace and security.” The statement described Iran as “the principal source of instability and terror throughout the Middle East” and stressed it “must never be allowed to obtain or develop nuclear weapons.”

Australian Prime Minister Anthony Albanese also endorsed the action, writing on X, “Australia stands with the brave people of Iran in their struggle against oppression.” He confirmed Australia supports “the United States acting to prevent Iran from obtaining a nuclear weapon,” while activating emergency consular measures and urging Australians to leave Iran if safe.

The United Kingdom said Iran “must never be allowed to develop a nuclear weapon.” U.K. Prime Minister Keir Starmer’s office said he was speaking with the leaders of France and Germany “as part of a series of calls with allies.”

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A person holds an image of Iran’s Supreme Leader Ayatollah Ali Khamenei as Iranian demonstrators protest against the U.S.-Israeli strikes, in Tehran, Iran, Feb. 28, 2026.  (Majid Asgaripour/WANA (West Asia News Agency) )

French President Emmanuel Macron warned, “The outbreak of war between the United States, Israel and Iran carries grave consequences for international peace and security.” He added, “The ongoing escalation is dangerous for all. It must stop,” and called for an urgent meeting of the United Nations Security Council.

In a joint statement, the leaders of France, Germany and the United Kingdom also  said they had “consistently urged the Iranian regime to end Iran’s nuclear program, curb its ballistic missile program, refrain from its destabilizing activity in the region and our homelands, and to cease the appalling violence and repression against its own people.” 

The three governments said they “did not participate in these strikes,” but remain “in close contact with our international partners, including the United States, Israel, and partners in the region.” 

They reiterated their “commitment to regional stability and to the protection of civilian life,” condemned “Iranian attacks on countries in the region in the strongest terms,” and called for a “resumption of negotiations,” urging Iran’s leadership to seek a negotiated solution. “Ultimately, the Iranian people must be allowed to determine their future,” the statement said.

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European Union foreign policy chief Kaja Kallas described developments as “perilous,” saying Iran’s “ballistic missile and nuclear programmes… pose a serious threat to global security,” while emphasizing that “Protection of civilians and international humanitarian law is a priority.”

Spain openly rejected the strikes. Socialist Prime Minister Pedro Sánchez said, “We reject the unilateral military action by the United States and Israel, which represents an escalation and contributes to a more uncertain and hostile international order.”

Meanwhile, Gulf states responded to reported Iranian missile activity.

Saudi Arabia’s Foreign Ministry said, “The Kingdom of Saudi Arabia condemns and denounces in strongest terms the blatant Iranian aggression and the flagrant violation of the sovereignty of the UAE, Bahrain, Qatar, Kuwait, and Jordan.” It affirmed “its full solidarity with and unwavering support for the brotherly countries” and warned of “grave consequences resulting from the continued violation of states’ sovereignty and the principles of international law.”

The United Arab Emirates’ Ministry of Defense said the country “was subjected to a blatant attack involving Iranian ballistic missiles,” adding that air defense systems “successfully intercepted a number of missiles.” Authorities said falling debris in a residential area caused “one civilian death of an asian nationality” and material damage.

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The ministry called the attack “a dangerous escalation and a cowardly act that threatens the safety of civilians and undermines stability,” and stated the UAE “reserves its full right to respond.”

UN’S ATOMIC AGENCY’S IRAN POLICY GETS MIXED REVIEWS FROM EXPERTS AFTER US-ISRAEL ‘OBLITERATE’ NUCLEAR SITES

Smoke rises after reported Iranian missile attacks, following strikes by the United States and Israel against Iran, in Manama, Bahrain, Feb. 28, 2026. (Reuters)

Pakistan’s Foreign Ministry said Deputy Prime Minister and Foreign Minister Mohammad Ishaq Dar “strongly condemned the unwarranted attacks against Iran” and called for “urgent resumption of diplomacy.”

China also weighed in. A spokesperson for the Chinese Embassy in Washington, wrote on X that Beijing is “highly concerned over the military strikes against Iran launched by the U.S. and Israel.” He added that “Iran’s sovereignty, security and territorial integrity should be respected” and called for “an immediate stop of the military actions” and “no further escalation.”

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Turkey’s Foreign Minister Hakan Fidan held calls with counterparts across the region, a Turkish Foreign Ministry source told Reuters. The discussions focused on “possible steps to be taken to help bring an end to the attacks.”

Ukraine’s President Volodymyr Zelenskyy directly linked the developments to Russia’s war against his country.

“Although Ukrainians never threatened Iran, the Iranian regime chose to become Putin’s accomplice and supplied him with ‘shahed’ drones,” Zelenskyy wrote, adding that Russia has used “more than 57,000 shahed-type attack drones against the Ukrainian people.”

“It is important that the United States is acting decisively,” he said. “Whenever there is American resolve, global criminals weaken.”

Russia sharply criticized the operation. Dmitry Medvedev, deputy chairman of Russia’s Security Council, said, “All negotiations with Iran are a cover operation.”

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An interception is visible in the sky over Haifa during the latest barrage. (Anthony Hershko/TPS-IL)

Lebanese Prime Minister Nawaf Salam warned, “We will not accept anyone dragging the country into adventures that threaten its security and unity.”

Norwegian Foreign Minister Espen Barth Eide said the strike “is not in line with international law.”

Reuters contributed to this report.

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Israel strikes two schools in Iran, killing more than 50 people

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State media says Israeli attack on girls’ school in the city of Minab in the south of the country kills dozens.

An Israeli strike has hit an elementary girls’ school in Minab, a city in the Hormozgan province of southern Iran, killing at least 53 people, according to state media, as the immediate civilian cost from Israel and the United States’ huge bombardment of Iran comes into sharper focus.

Workers are continuing to clear wreckage from the site, where 63 others have been injured on Saturday, said Iran’s state-run IRNA news agency. The strike is part of a wave of joint US-Israeli military attacks across Iran that has triggered an outbreak of regional violence.

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Iranian Foreign Minister Abbas Araghchi shared a photo of the attack, which he said destroyed the girls’ school and killed “innocent children”.

“These crimes against the Iranian People will not go unanswered,” Araghchi wrote in a post on X.

Iran’s Foreign Ministry spokesman Esmail Baqaei also slammed the “blatant crime” and urged action from the United Nations Security Council.

Separately, Iran’s Mehr news agency reported that at least two students were killed by another Israeli attack that hit a school east of the capital, Tehran.

Reporting from Tehran, Al Jazeera’s Mohammed Vall said the attacks call into question US and Israeli claims that “they are targeting only military targets and they are trying to punish the regime, not the people of Iran.”

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“President Trump has promised the Iranian people that aid or help is coming their way, but now we are seeing civilian casualties; that’s something that the Iranian government will stress as a case of violation of international law and an aggression against the Iranian people, ” said Vall.

There was no immediate reaction from the US or Israel on Iran’s claims about the school strikes.

The last time the US and Iran waged attacks on Iran in June 2025, sparking the 12-day war, the civilian toll in Iran was also heavy.

According to Iran’s Ministry of Health and Medical Education, thousands of civilians were killed or injured, and public infrastructure was damaged, during that conflict.

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