linguistic:translation
Financial

Chicago is the largest economic and financial center of the Midwest, and has the third largest gross metropolitan product in North America—approximately $689 billion, after the regions of New York City and Los Angeles. Chicago was named the fourth most important business center in the world in the MasterCard Worldwide Centers of Commerce Index. The 2021 Global Financial Centres Index ranked Chicago as the fourth most competitive city in the country and eleventh in the world, directly behind Paris and Tokyo. The Chicago Board of Trade (established 1848) listed the first ever standardized "exchange traded" forward contracts, which were called futures contracts. As a world financial center, Chicago is home to major financial and futures exchanges including the CME Group which owns the Chicago Mercantile Exchange ("the Merc"), Chicago Board of Trade (CBOT), the New York Mercantile Exchange (NYMEX), the Dow Jones Indexes, and the Commodities Exchange Inc. (COMEX). Other major exchanges include the Chicago Board Options Exchange (CBOE), the largest options exchange in the Western Hemisphere; and the Chicago Stock Exchange. In addition, Chicago is also home to the headquarters of the Federal Reserve Bank of Chicago (the Seventh District of the Federal Reserve).

Outside of Chicago, many other Midwest cities are host to financial centers as well. Federal Reserve Bank districts are also headquartered in Cleveland, Kansas City, Minneapolis, and St. Louis. Major United States bank headquarters are located throughout Ohio including Huntington Bancshares in Columbus, Fifth Third Bank in Cincinnati, and KeyCorp in Cleveland. Insurance Companies such as Elevance Health in Indianapolis, Nationwide Insurance in Columbus, American Family Insurance in Madison, Wisconsin, Berkshire Hathaway in Omaha, State Farm Insurance in Bloomington, Illinois, Reinsurance Group of America in Chesterfield, Missouri, Cincinnati Financial Corporation and American Modern Insurance Group of Cincinnati, and Progressive Insurance and Medical Mutual of Ohio in Cleveland also spread throughout the Midwest.