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’The London (disorderly) Stock Exchange
We pass this on, for what it’s worth, but without offering any insight as to whether it is true or false: shares in the LSE jumped by almost 15 per cent on Wednesday on intense speculation that CME, the Chicago exchange,
Doubts grow over CME move for Nymex
The CME Group’s attempt to enhance its position as the world’s biggest financial exchange by taking over Nymex is looking increasingly likely to be derailed by shareholder opposition. Any deal must be approved by at least three-quarters of Nymex’s membership,
Surge in futures trading boosts CME
CME Group, the world’s biggest futures exchange, reported record Q1 earnings on Tuesday, reflecting the company’s growth through acquisition and a pronounced surge in derivatives trading. The CME’s total Q1 revenues were $625m,
CME seals $9.4bn Nymex deal
The CME Group on Monday finalised a deal to buy Nymex for $9.4bn in cash and shares, cementing its position as the world’s biggest exchange. The deal will create a company that controls about 98% of US-listed futures and offers contracts on a wide range of underlying commodities and events such as interest rates,
Chicago Merc nears Nymex deal
Chicago Mercantile Exchange parent CME Group may finalise plans as early as next week to buy energy-exchange operator Nymex, reports the WSJ. The exclusive talks between the two derivatives-markets operators have intensified since late January,
Goldman eyes exchange investment
Goldman Sachs is likely to invest in a start-up futures exchange that aims to compete against Chicago Mercantile Exchange owner CME Group, reports the WSJ. The new exchange, which hasn’t chosen a name or chief executive,
CME and Nymex extend exclusive talks
The CME Group, the world’s biggest futures exchange, said Monday night that it was extending exclusive talks to buy Nymex, the New York exchange. The CME – born last year from the Chicago Mercantile Exchange’s $11bn takeover of the Chicago Board of Trade – announced last month it was in talks to buy the Nymex.
CME considers improving Nymex offer
CME Group is considering improving its bid for the Nymex as it seeks to create the world’s biggest exchange. The CME – already the world’s biggest futures exchange – last month announced 30-day exclusive talks to buy the New York energy exchange,
Clearing reform doubts lift CME
Reform of the way US futures contracts are cleared is unlikely to happen for at least five years, analysts said Thursday, as the US Treasury distanced itself from a call by the Department of Justice for reform of the futures clearing system,
NYSE, CME see record volumes
Consolidation in the global exchange sector boosted earnings at US exchanges in the 2007 fourth quarter, with the New York Stock Exchange and the CME Group both announcing record volumes on Tuesday. Growth at the CME Group,
Open-outcry: Another piece of ‘Americana’ fades as CME moves in
One of America’s great, low-tech traditions – open-outcry trading, along with a slew of jobs, are heading for the door as the CME Group edges closer to its proposed takeover of Nymex, reports the FT on Tuesday.
CME’s Nymex bid set to trigger battles
The CME Group’s $11.3bn bid for energy exchange Nymex is facing opposition from within the derivatives industry over concerns that it will create a dominant exchange with excessive pricing power. The
CME in $11bn move for Nymex
The CME Group on Monday confirmed it is in preliminary talks to buy energy exchange Nymex for about $11bn in a deal that would cement its position as the world’s most important futures market. Just six months after the CME acquired the Chicago Board of Trade for $12bn,
Nymex in talks with CME
Is Nymex at last going to succeed at reeling in a suitor? The exchange has long been trying to get a hand in the consolidation game going on amongst its global peers.
Last summer, Nymex was rumoured to be making eyes at the Chicago Mercantile Exchange,
CBOE edges closer to flotation
America’s biggest options exchange took a critical step closer to going public on Wednesday when the SEC ruled in its favour in a dispute with the world’s largest futures exchange. The SEC upheld a decision by the Chicago Board Options Exchange,
CME to halve trading times
CME, the world’s largest futures exchange, will halve its electronic trading times in a move that could lessen the threat from a planned new exchange backed by some of the world’s largest derivatives dealers.
CME seeks growth outside US
CME Group, the world’s biggest derivatives exchange, has signalled a wave of international expansion, striking deals in South Korea and with the Brazilian Mercantile and Futures Exchange, its first step into Latin America.
CME Group raises ante over rival’s ownership
The CME Group on Thursday intensified the battle over the future ownership of the rival Chicago Board Options Exchange by lifting a cap on its legal expenses and buying disputed purchase rights. The CBOE’s plans for an IPO that could value the group at more than $3bn have been effectively blocked by the simmering dispute with the CME,
Nymex in talks with CME and NYSE
A two-way tussle for control of the New York Mercantile Exchange is likely to be deferred until later this year after the energy and metals-trading specialist unexpectedly revealed it had held takeover talks,
… And CME raises margin requirement
The CME Group, the world’s largest derivatives exchange, on Thursday increased margin requirements across a range of products, limiting potential trading losses from increased market volatility. While exchanges review the leverage which traders can employ on a daily basis,
CME declares victory in battle for CBOT
The Chicago Mercantile Exchange on Monday declared victory after a nine-month pursuit of the Chicago Board of Trade as members and shareholders voted to combine and create the world’s largest derivatives platform.
CME raises offer for CBOT — is this the finale?
The “never-ending story” of the battle for the Chicago Board of Trade has moved into yet another – and possibly the decisive – phase after the Chicago Mercantile Exchange on Friday raised its bid for a third time and secured its target’s largest shareholder in an effort to fend off its rival the Intercontinental Exchange,
ICE bid for CBOT passes $12bn mark
If you’re wondering whether it’s ever going to end, keep wondering. The saga over the Chicago Board of Trade, the second-largest US futures exchange, intensified after it emerged on Wednesday that the value of the hostile offer for the CBOT from the Intercontinental Exchange passed $12bn,
CME sweetens proposed deal for CBOT
The Chicago Mercantile Exchange on Thursday improved its bid for the Chicago Board of Trade for a second time, though members and shareholders suggested it remains short of the “knock-out blow” required to secure the world’s third largest derivatives platform.
ICE raises its offer for CBOT
The Intercontinental Exchange on Tuesday sweetened its offer for the Chicago Board of Trade and appealed directly to members and shareholders with terms it claimed are 20 per cent above the rival bid from the Chicago Mercantile Exchange.
CME-CBOT deal gets antitrust approval
US antitrust regulators on Monday cleared the path for a final three-week price battle over the Chicago Board of Trade by approving its proposed merger with the Chicago Mercantile Exchange. The Intercontinental Exchange,
CBOT plans fresh drive to seal CME merger
The Chicago Board of Trade plans a fresh offensive to win support for its merger with the Chicago Mercantile Exchange once antitrust officials have ruled on the proposed deal. The Chicago exchanges remain confident their agreed deal will clear a US justice department review,
ICE ratchets up battle for CBOT
The Intercontinental Exchange on Thursday signalled it was prepared to make a hostile approach for the Chicago Board of Trade and underwrite the $288m break-up fee to win its target from the Chicago Mercantile Exchange.
ICE pact could bolster CBOT bid
IntercontinentalExchange, the Atlanta energy-exchange operator, has reached an unusual agreement with the Chicago Board Options Exchange valued at about $665m that could help settle a longstanding dispute between the options exchange and its longtime rival the Chicago Board of Trade,
ICE steps up CBOT takeover bid
The Intercontinental Exchange has hired a high-profile proxy firm to press the merits of its takeover bid for the Chicago Board of Trade in a sign that it is prepared to appeal directly to shareholders with a deal now valued at $11.3bn.