The following released this morning:
"CHICAGO, Oct. 17, 2006 – Chicago Mercantile Exchange Holdings Inc. (NYSE, NASDAQ: CME) and CBOT Holdings, Inc. (NYSE: BOT) today announced they have signed a definitive agreement to merge the two organizations to create the most extensive and diverse global derivatives exchange. The combined company, to be named CME Group Inc., a CME/Chicago Board of Trade Company, is expected to transform global derivatives markets, creating operational and cost efficiencies for customers and exchange members, while delivering significant benefits to shareholders. Corporate headquarters of the combined organization will remain in Chicago."
I can't say what the implications are likely to be to our industry and, of course, it hasn't been approved by regulators yet. If you want to read all about it go to
http://www.cme.com/about/press/cn/06-148CMEandCBOTMerger20222.html
All trading floor activities will be consolidated at the CBOT.
We'll have to keep an eye on this.
"CHICAGO, Oct. 17, 2006 – Chicago Mercantile Exchange Holdings Inc. (NYSE, NASDAQ: CME) and CBOT Holdings, Inc. (NYSE: BOT) today announced they have signed a definitive agreement to merge the two organizations to create the most extensive and diverse global derivatives exchange. The combined company, to be named CME Group Inc., a CME/Chicago Board of Trade Company, is expected to transform global derivatives markets, creating operational and cost efficiencies for customers and exchange members, while delivering significant benefits to shareholders. Corporate headquarters of the combined organization will remain in Chicago."
I can't say what the implications are likely to be to our industry and, of course, it hasn't been approved by regulators yet. If you want to read all about it go to
http://www.cme.com/about/press/cn/06-148CMEandCBOTMerger20222.html
All trading floor activities will be consolidated at the CBOT.
We'll have to keep an eye on this.