CHRONOLOGY-Consolidation among commodity exchanges
March 18 (Reuters) - CME Group Inc (CME.N: Quote, Profile, Research, Stock Buzz), the world's largest derivatives exchange, on Monday forged a definitive agreement to buy energy and precious metals mart NYMEX (NMX.N: Quote, Profile, Research, Stock Buzz) for about $9.4 billion.
Here is a chronology of important consolidation moves by commodities and energy markets worldwide:
1848 -- Eighty three traders establish the Chicago Board of Trade (CBOT) on April 3.
1882 - The Butter, Cheese and Egg Exchange became the New York Mercantile Exchange (NYMEX).
1919 - Chicago Butter and Egg Board becomes Chicago Mercantile Exchange (CME) in order to trade in additional agricultural futures contracts. A clearing house is also established.
1933 - The Commodity Exchange (COMEX) founded through merger of the National Metal Exchange, the Rubber Exchange of New York, the National Raw Silk Exchange and the New York Hide Exchange.
1973 -- CBOT establishes the Chicago Board Options Exchange, a new exchange that trades call and put options on stocks.
1979 - Coffee and Sugar Exchange merges with New York Cocoa Exchange to establish the Coffee, Sugar and Cocoa Exchange (CSCE).
1994 - NYMEX and COMEX merge, creating the world's largest physical commodity futures exchange -- a marketplace for energy products, precious metals and base metals.
1998 - New York Board of Trade (NYBOT) becomes the parent firm of both the New York Cotton Exchange and the CSCE.
June 2001 - Internet-based commodity market IntercontinentalExchange (ICE) buys the London-based International Petroleum Exchange (IPE), valuing it at $67.5 million.
October 2001 - Paris-based European exchange operator Euronext beats the London stock Exchange to acquire London-based derivatives market LIFFE for 555 million pounds ($805 million). LIFFE trades futures contracts in everything from shares to sugar and from wheat to weather.
June 2004 - NYBOT completes the merger of its two units -- the Coffee, Sugar and Cocoa Exchange (CSCE) and the New York Cotton Exchange (NYCE).
October 2006 - CME, the world's largest derivatives exchange, agrees to buy cross-town rival CBOT for $8 billion, ending a century of competition to create the world's largest publicly traded exchange by market capitalization.
January 2007 - Atlanta-based ICE buys NYBOT for $1.07 billion.
June 2007 - ICE says it will buy Canada's privately held agricultural futures bourse, Winnipeg Commodity Exchange, for a deal worth C$40 million (US$37.4 million).
November 2007 - NYMEX Holdings Inc snaps up 15.1 percent of Norwegian sea freight derivatives exchange IMAREX ASA for $52 million.
January 2008 - CME Group ratifies the equity stake of about 10 percent in Brazilian Mercantile & Futures Exchange SA, the world's fourth-largest futures exchange. BM&F will acquire about 1.2 million shares of CME Group common stock.
February 2008 - Norway's freight derivatives and energy exchange Imarex agrees to buy British energy marketplace Spectron Group for $138 million.
February 2008 - NYSE Euronext agrees to buy a 5 percent stake in India's Multi Commodity Exchange (MCX) for $55 million, aiming to obtain a slice of the commodities boom in India.
March 17, 2008 - CME Group (CME.N: Quote, Profile, Research, Stock Buzz), the parent company of the Chicago Mercantile Exchange and the Chicago Board of Trade, finalizes a deal to buy NYMEX (NMX.N: Quote, Profile, Research, Stock Buzz) for about $9.4 billion. MAJOR EXCHANGES REMAINING INDEPENDENT: London Metal Exchange (LME) - Industrial metals and plastics Kansas City Board of Trade - Winter wheat Minneapolis Grain Exchange - Spring wheat Shanghai Metal Exchange (SHME) - Non-ferrous metals Dubai Mercantile Exchange (DME) - Oil futures and options Dubai Gold & Commodities Exchange (DGCX) - Precious metals
Source: Reuters (Writing by Nagesh Narayana, editing by Matthew Lewis)
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