The outage is the latest in a series of technical glitches to hit Globex and a huge embarrassment to the CME which has played up the benefits of electronic trading. Last week the Exchange reported that a record rise in electronic transaction volumes had contributed to a 25% revenue rise and a 40% increase in first quarter net income. With Globex down, many firms switched orders to the CME dealing floor where the S&P 500 futures contract is still traded eyeball to eyeball in the pits.