March 2 at 3:42 p.m.
Filed under:
Exchanges,
M&A
By Reuters
NYSE Euronext will launch its long-awaited challenge to CME Group’s lucrative interest rate futures franchise on March 21, the exchange operator said on Wednesday.
The launch highlights the importance of the derivatives business to the operator of the world’s best known stock exchange, which agreed last month to be taken over by Germany’s Deutsche Boerse AG. The combination would dominate European futures trading, even as the NYSE tries to win a foothold in U.S futures, where CME is the biggest player. Get the full story »
Melissa Bean. (Nancy Stone/Chicago Tribune)
By Becky Yerak and Melissa Harris | Melissa Bean, the Barrington Democrat recently ousted from her U.S. House seat after three terms, has been hired as the new chief executive of the Executives’ Club of Chicago.
Before entering the world of politics, Bean worked in sales and management for high-tech companies, including a Motorola unit, Nortel and Arrow Electronics. She later started her own consulting firm to the tech industry, advising clients that included Anixter, Intel and Microsoft. She was elected to Congress in 2004.
Bean replaces Kaarina Koskenalusta, who resigned from the business forum last October after 25 years at the helm. Get the full story »
Feb. 28 at 10:43 a.m.
Filed under:
Exchanges
By Reuters
CME Group Inc. on Monday unveiled a cross-margining plan that would help customers trading both interest rate and Treasury futures, as the world’s largest derivatives exchange prepares for more competition.
The move by the Chicago Mercantile Exchange parent to create a new clearing membership class comes weeks before rival NYSE Euronext is expected to launch a similar cross-margining platform. Get the full story »
Feb. 23 at 10:24 a.m.
Filed under:
Exchanges,
M&A,
Updated
By Reuters
Chicago's CME Group offices at 30 S. Wacker Drive in Chicago. (Nancy Stone/Chicago Tribune)
Nasdaq OMX Group could launch a rival bid for NYSE Euronext to avoid being left on the sidelines, a source said, as traditional exchanges race to merge to see off upstart electronic rivals.
This is one option Nasdaq, valued at $5.7 billion, is considering as a spate of deals shakes up an industry under intense cost pressure from new entrants such as BATS Global Markets, which last week snapped up rival Chi-X.
Nasdaq’s alternatives include tying up with IntercontinentalExchange Inc or the Chicago Mercantile Exchange (CME) to wrest NYSE from its planned $10.2 billion takeover by Deutsche Boerse, the source familiar with the matter said. Get the full story »
Feb. 23 at 10:20 a.m.
Filed under:
Exchanges
By Reuters
A proposed rule meant to protect investor access to fair prices on U.S. futures markets will instead drive business to less-regulated venues, boost costs, and stifle competition, the exchanges warned.
Eleven exchanges — including NYSE Euronext’s U.S. futures market, exchange giant CME Group, energy markets operator IntercontinentalExchange and Wall Street-backed ELX Futures LP — took aim at the rule in comment letters posted late Tuesday to the Commodity Futures Trading Commission’s web site, an unusual chorus of unity among fierce competitors. Fund manager Blackrock Inc also opposed the rule. Get the full story »
Feb. 23 at 10:11 a.m.
Filed under:
Exchanges,
M&A
By Reuters
The recent wave of exchange mergers marks an era of consolidation that will leave no more than four global trading firms in five years’ time, said Xavier Rolet, the chief executive of the London Stock Exchange. Get the full story »
Feb. 21 at 5:59 a.m.
Filed under:
Exchanges,
M&A
By Dow Jones Newswires-Wall Street Journal
Exchange giant CME Group Inc. discussed a merger with Deutsche Boerse AG in late 2007, but the two companies couldn’t agree on a price, according to people familiar with the matter.
The aborted talks show how hungry the Chicago company was to combine the biggest derivatives-trading operations in the U.S. and Europe. Even though the discussions fell apart, CME still has ambitions for world-wide dominance in derivatives. Get the full story »
Feb. 18 at 9:32 a.m.
Filed under:
Exchanges
By Reuters
Brazilian exchange operator BM&FBovespa is not in merger talks with Chicago-based exchange operator CME Group but expects their partnership to expand in the near future, BM&FBovespa Chief Executive Edemir Pinto said on Friday.
His remarks followed a frenzied week of merger announcements by exchanges around the world as bourses move to strengthen ties in the face of tough competition at home. Get the full story »
Feb. 16 at 5:12 p.m.
Filed under:
Exchanges
By Reuters
U.S. exchanges may not rush to strike deals to compete with the combined Deutsche Boerse AG and NYSE Euronext, even as the sector is almost certain to consolidate further over the long term.
In particular, analysts cast doubt on a report that CME Group would try to buy NYSE Euronext — operator of the New York Stock Exchange — away from its German suitor, which this week offered to pay $10.2 billion for the icon of U.S. capitalism. Get the full story »
Feb. 16 at 11:30 a.m.
Filed under:
Exchanges
By Reuters
Nasdaq OMX Group is scrambling to respond to Deutsche Boerse AG’s $10.2 billion takeover of NYSE Euronext, and may team up with IntercontinentalExchange Inc, Fox Business Network said.
Nasdaq has hired an investment bank and has discussed launching a joint bid for NYSE with Chicago-based CME Group, the report said. The deal to team up with ICE had not gone to Nasdaq’s board of directors as of Tuesday, the report said.
It was unclear whether the report was referring to a potential Nasdaq merger with ICE, or to a possible joint bid for NYSE. Get the full story »
Feb. 15 at 8:42 a.m.
Filed under:
Exchanges,
Investing,
Updated
By Associated Press
The parent company of the New York Stock Exchange says it has agreed to combine with the operator of the Frankfurt stock exchange, Deutsche Boerse.
The deal announced Tuesday will create the world’s largest financial exchange owner. Deutsche Boerse shareholders will own 60 percent of the new company. Shareholders of NYSE Euronext Inc. will own the rest. Get the full story »
Feb. 15 at 7:55 a.m.
Filed under:
Exchanges
By Dow Jones Newswires-Wall Street Journal
CME Group's offices at 30 S. Wacker Drive in Chicago, Feb 14, 2011. (Nancy Stone/Chicago Tribune)
CME Group Inc. said it remains committed to “organic growth” in derivatives trade, following speculation that the Chicago company may launch a rival bid for NYSE Euronext.
CME, one of the world’s largest operators of futures and options markets, was reported Monday to be exploring a possible offer for the Big Board parent, which is in advanced merger talks with Germany’s Deutsche Börse AG, with Nasdaq OMX Group Inc. as a potential partner in such a deal.
NYSE Euronext owns the NYSE Liffe derivatives market, which is strong in Europe. Get the full story »
Feb. 15 at 5:38 a.m.
Filed under:
Exchanges,
Investing
By Reuters
CME Group Inc., the biggest U.S. futures exchange operator, said on Monday that 10 top swaps dealers signed up to be founding members of CME’s interest-rate swaps clearing service.
The firms that signed a non-binding term sheet for the service were BofA Merrill Lynch, Barclays Capital, Citigroup, Credit Suisse, Deutsche Bank Securities Inc, Goldman Sachs Group, JPMorgan Chase & Co, Morgan Stanley, Nomura and UBS, CME said. It provided no details on terms of the agreement. Get the full story »
Feb. 14 at 3:50 p.m.
Filed under:
Exchanges,
M&A
By Gregory Karp
Chicago-based CME Group is considering horning in on merger talks between the New York Stock Exchange owner and a stock exchange in Germany, according to reports.
CME, which employs about 2,000 in Chicago, is considering a strategic response to the impending takeover of the Big Board by Deutsche Boerse AG. Get the full story »
Feb. 10 at 4:50 p.m.
Filed under:
Exchanges,
International,
M&A
By Reuters
CME Group Inc. is still digesting the news that Deutsche Boerse is in talks to buy NYSE Euronext, a top executive said, and it is unclear how difficult a deal it will be to complete. Get the full story »
