CME Group Combines New York Trading Floors

* Reuters is not responsible for the content in this press release.

Mon May 18, 2009 4:49pm EDT

Consolidated Trading Facility Marks Key Merger Integration Milestone 

NEW YORK, May 18 /PRNewswire-FirstCall/ -- CME Group, the world's largest and
most diverse derivatives exchange, announced today that it has completed its
New York trading floor integration, a key milestone following its 2008
acquisition of NYMEX.  The integration was completed in two phases, first the
reconfiguration of the energy trading floor on April 20, and today, combining
the energy and metals futures and options trading rings onto one trading
floor.

"We have consolidated two major trading floors into one vibrant facility at
our NYMEX world headquarters in Lower Manhattan," said CME Group Executive
Chairman Terry Duffy. "We are confident that combining several markets into
our trading rings will give members and customers access to greater liquidity
on our New York trading floor.  We look forward to moving forward with the
integration of our clearing systems in the third quarter of this year."

"We are very pleased to have completed the successful integration of our New
York trading facilities within nine months following our acquisition of
NYMEX," said CME Group Chief Executive Officer Craig Donohue. "As a result of
our successful integration efforts to date, we are on track to realize $60
million in annual cost synergies by the end of this year. More importantly, we
continue to see strong growth opportunities in CME Group's listed energy and
metals markets, as well as through CME ClearPort, which now facilitates
central counterparty clearing services for approximately 700 different
over-the-counter derivatives instruments."

The combined New York trading floor, which represents CME Group's continuing
commitment to New York City as a global financial center, is now home to open
outcry trading for NYMEX and COMEX futures and options, including crude oil,
natural gas, heating oil, gasoline, gold, silver, copper, platinum, and
palladium.  CME Group expects its integration of NYMEX to be substantially
complete in Q4 2009.

CME Group (www.cmegroup.com) is the world's largest and most diverse
derivatives exchange.  Building on the heritage of CME, CBOT and NYMEX, CME
Group serves the risk management needs of customers around the globe.  As an
international marketplace, CME Group brings buyers and sellers together on the
CME Globex electronic trading platform and on trading floors in Chicago and
New York.  By acting as the buyer to every seller and the seller to every
buyer, CME Clearing virtually eliminates counterparty credit risk.  CME
Clearing also offers financial safeguards to help mitigate systemic risk,
providing the security and confidence market participants need to operate,
invest and grow.  CME Group offers the widest range of benchmark products
available across all major asset classes, including futures and options based
on interest rates, equity indexes, foreign exchange, energy, agricultural
commodities, metals, and alternative investment products such as weather and
real estate.  CME Group is listed on NASDAQ under the symbol "CME."

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 and its products can be found at www.cmegroup.com.
 

CME-G




SOURCE  CME Group

Media, Anu Ahluwalia, +1-212-299-2439, or Allan Schoenberg,+1-312-930-8189,
news@cmegroup.com, www.cmegroup.mediaroom.com or Investors, John Peschier,
+1-312-930-8491, all of CME Group
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.