CME Group Announces Substantial Completion of NYMEX Integration
05 November 2009 - 3:30PM
PR Newswire (US)
On Track to Achieve $60 Million in Cost Synergies CHICAGO, Nov. 5
/PRNewswire-FirstCall/ -- CME Group, the world's largest and most
diverse derivatives marketplace, today announced that it has
substantially completed the integration of NYMEX and COMEX. The
company also confirmed that it is on track to deliver an estimated
$60 million in cost synergies associated with the August 2008
acquisition. The company has completed all major milestones
associated with the integration, including: -- Integrating
membership and fee systems; -- Combining back-end clearing systems;
-- Migrating NYMEX and COMEX trading floors into one New York
trading facility; and -- Integrating front-end clearing systems for
both NYMEX and COMEX. "This integration further establishes CME
Group as a leader in derivatives trading in every major asset
class," CME Executive Chairman Terry Duffy said. "We want to thank
our customers, members, and employees for their support and hard
work that brought our Chicago and New York trading communities
together, making it possible for us to offer the most innovative,
flexible and diverse risk management tools to the industry." "We
see New York as a vital part of our growth strategy in both
exchange-traded and over-the-counter markets," CME Group CEO Craig
Donohue said. "As a result of our integration, we have launched
more than 200 energy, metals and agricultural products on CME
ClearPort this year and plan to add OTC clearing services for
credit derivatives, foreign exchange and interest rate products in
the future. Additionally, year-over-year monthly volume on CME
ClearPort increased 16 percent in October, with average daily
volume of approximately 500,000 contracts, demonstrating that
clients continue to value the safety and security of our open
clearing services offered through CME ClearPort." As the world's
largest and most diverse derivatives marketplace, CME Group
(http://www.cmegroup.com/) is where the world comes to manage risk.
CME Group exchanges offer the widest range of global benchmark
products across all major asset classes, including futures and
options based on interest rates, equity indexes, foreign exchange,
energy, agricultural commodities, metals, weather and real estate.
CME Group brings buyers and sellers together through its CME
Globex® electronic trading platform and its trading facilities in
New York and Chicago. CME Group also operates CME Clearing, one of
the largest central counterparty clearing services in the world,
which provides clearing and settlement services for exchange-traded
contracts, as well as for over-the-counter derivatives transactions
through CME ClearPort®. These products and services ensure that
businesses everywhere can substantially mitigate counterparty
credit risk in both listed and over-the-counter derivatives
markets. The Globe logo, CME, Chicago Mercantile Exchange, CME
Group, Globex, E-mini and CME ClearPort are trademarks of Chicago
Mercantile Exchange Inc. CBOT and Chicago Board of Trade are
trademarks of the Board of Trade of the City of Chicago. NYMEX and
New York Mercantile Exchange are trademarks of New York Mercantile
Exchange, Inc. COMEX is a trademark of Commodity Exchange, Inc. All
other trademarks are the property of their respective owners.
Further information about CME Group (NASDAQ:CME) and its products
can be found at http://www.cmegroup.com/. CME-G DATASOURCE: CME
Group CONTACT: Media, Anu Ahluwalia, +1-212-299-2439, or Mary
Haffenberg, +1-312-930-3435, both at ,
http://www.cmegroup.mediaroom.com/, or Investors, John Peschier,
+1-312-930-8491, all of CME Group Web Site:
http://www.cmegroup.com/
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