The CME managed to benefit from the same virtuous cycle in futures.

CME成功地从期货业相同的良性循环中受益。

The CME also negotiated the shift to electronic trading better than its competitors.

CME转移到电子交易时也比它的竞争对手做的好。

The wild swings in wholesale cheese prices play out on the CME's auction platform.

芝士批发价格的剧烈波动在芝加哥商品交易所的拍卖平台上显现出来。

There has been some inflation, but the swings you see on the CME are largely absent.

虽然出现了一些通胀，但你在芝加哥商品交易所看到的波动基本上不存在。

But during these swings on the CME, the price of cheese here, at the supermarket, held pretty stable.

但在芝加哥商品交易所的波动期间，超市里的奶酪价格保持了相当稳定。

But, as in the case of Apple, the CME's main problem is to develop new markets.

正如苹果的处境一样，CME的主要问题是开发新市场。

If the magnetic field of the CMEs align to Earth's in just the right way, the two magnetic fields merge.

如果CME的磁场与正确地与地球对齐，这两个磁场会合并。

Eran Wajswol, who owns an artisanal creamery, told us that while the CME was swinging in 2020, his business was thriving.

Eran Wajswol 经营着一家手工乳品厂，他告诉我们，当芝加哥商品交易所在2020年摇摆不定时，他的生意却蒸蒸日上。

Permitting futures funds allows the SEC to direct investors to regulated exchanges like the CME, which enables the watchdog to intervene to prevent wrongdoing.

允许设立期货基金，SEC就可以引导投资者进入芝加哥商品交易所等受监管的交易所，这样监管机构就能够进行干预，以防止不当行为发生。

A futures-linked fund needs to roll forward futures contracts as existing ones expire, which is costly; so is the requirement to park hefty collateral at the CME.

期货挂钩基金需要在现有期货合约到期时展期，代价非常大；在芝加哥商品交易所存放大量抵押品的要求也是如此。

Leading the pack, the CME was able to benefit from powerful network effects, just as it did in its old business of handling trades in cattle and pork bellies.

领先于其他企业后，CME便能从强大的网络效果中渔利，这正如它在掌控老式的牛和猪腩肉交易时做的一样。

And so gradually over millions or maybe billions of years, the atmosphere was gradually knocked off into space by the influence of the solar wind and by the CMEs that came past the planet.

所以，渐渐地，在经过数百万或数十亿年后，火星的大气层逐渐地被撞入太空，这都是受到太阳风，以及掠过火星的日冕物质喷射共同作用的影响。

The fear that prompts firms to purchase futures (the contracts traded on the CME to protect firms against changes, for instance, in the level of a currency and the price of energy) was less acute.

促使企业购买期货（在CME集团交易的合约能保护公司免受货币汇率、能源价格等变化的影响）的危机趋缓。

The electrified plasma from the CME is deflected by the Earth's magnetic field, diverting the energy storm to the North and South Poles, where energetic particles fall into the atmosphere, causing the atmosphere to glow, and creating beautiful auroras.

来自CME的带电等离子体在地球磁场作用下偏转，影响无线电通信，或对宇航员造成危害，在高能量粒子掉入大气层的地方，导致大气层发光，并创造出美丽的极光。