By Greg Burns | CME
Group and Dow Jones & Co. on Wednesday announced a definitive
agreement that gives the Chicago-based futures mart a 90 percent
ownership interest in a new joint venture that will market the Dow
Jones Industrial Average and related indexes.
CME said it will contribute market-data services to the joint venture
that it values at $607.5 million. The new entity plans to raise $613
million in third-party debt, which will be used to pay a $607.5 million
distribution to Dow Jones.
The transaction, subject to approval by regulators, is expected to close during the first quarter of 2010.
I opened a business account having moved from Lloyds as I got suckered by the advertising. It took ages to open, they lost the signatories paperwork, took a month to change the business name and when money started coming in via BACS they would not let me withdraw it until it had sat in the account, cleared for 4 days????? I have never managed to speak to my business manager once.