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CME Group Inc. anticipates the business of providing fast connections to computer-powered traders could bring in $100 million in revenue within four to five years, a senior executive said Wednesday.
The world’s biggest futures-exchange operator plans to introduce co-location services for electronic traders in early 2012, and more than 100 customers have made early commitments to the program, according to CME Chief Financial Officer Jamie Parisi. Get the full story »
Bernard Dan, who headed the Chicago Board of Trade until its 2007 takeover by CME Group Inc., will help guide NYSE Euronext’s co-owned clearinghouse as it takes on the CME later this month.
Dan, currently president of Chicago-based trading firm Sun Holdings LLC, joined the board of New York Portfolio Clearing as an independent director, the clearinghouse said Wednesday. Get the full story »
The proposed combination of Europe’s biggest futures markets will do little to help NYSE Euronext and Deutsche Boerse AG compete against CME Group Inc. in the U.S., a senior CME executive said Tuesday.
“Putting together their pools of liquidity doesn’t really create competitive advantages for them,” said Jamie Parisi, chief financial officer for the Chicago-based exchange company, speaking at an event hosted by Raymond James. Get the full story »
From NBC | The commissioner of the LPGA Tour announced Sunday that Chicago-based CME Group will become the title sponsor of the season-ending Titleholders tournament at Grand Cypress in Orlando. The inaugural CME Group Titleholders will be played Nov. 17-20, and will replace the LPGA Tour Championship on the schedule.
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 »
A senior U.S. Treasury official said he did not see any national security concerns with Deutsche Boerse’s planned takeover of NYSE Euronext.
The deal between the German market and the iconic New York-based exchange must win approval from the Securities and Exchange Commission and the Justice Department’s antitrust division. Get the full story »
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 »
CME Group Inc. can stay competitive without joining the merger and acquisition frenzy that has caught up financial exchanges globally, Executive Chairman Terrence Duffy told Reuters Insider Friday.
The tie-ups, including London Stock Exchange’s plan to buy Canada’s TMX Group, and Germany Deutsche Boerse’s agreement to buy NYSE Euronext, have sparked speculation over whether futures exchange operator CME would need to bulk up. Get the full story »
CBOE Holdings Inc.’s focus on equity derivatives has kept it competitive against larger rivals, but remaining a niche player “may not be the only way that we will succeed,” CEO William Brodsky told Reuters in an interview on Wednesday.
Germany’s Deutsche Boerse AG agreed last week to buy NYSE Euronext in a $10.2 billion deal, the biggest tie-up in a recent wave of global mergers that has also brought together the operators of the Toronto and London exchanges and the Australian and Singapore exchanges.
The deals have sparked speculation over what exchange could be the next takeover target. Get the full story »
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 »
