NYSE Euronext to Purchase CME Group Metals Complex
Vendredi 14 mars 2008 / 20h41
CHICAGO and NEW YORK, March 14, 2008 - NYSE Euronext, the world's leading and most liquid exchange group, and CME Group, the world's largest and most diverse derivatives exchange, today announced that NYSE Euronext will purchase the CME Group's Metals Complex. Trading of full and e-mini gold and silver futures and options on futures contracts will begin later this year on LIFFE CONNECT®, NYSE Euronext's derivatives trading system, pending regulatory approvals.
Precious metals derivatives currently trade on e-CBOT, an electronic trading platform that is managed by Atos Euronext Market Solutions (AEMS) and powered by LIFFE CONNECT. With the precious metals market as part of NYSE Euronext, market participants will further benefit from the investments made in LIFFE CONNECT by NYSE Euronext. The precious metals complex will continue to be cleared at CME Clearing on an interim basis, after which NYSE Euronext will provide for an alternative clearing solution.
Under terms of the agreement, NYSE Euronext will acquire the CBOT Metals Complex from CME Group, including its volume and open interest. CBOT will continue to act as the Designated Contract Market (DCM) for the products until NYSE Euronext establishes its own DCM. CME Group has agreed to provide clearing services for up to one year.
"The addition of CME Group's precious metals market gives NYSE Euronext a point of entry into the U.S. futures business," said Duncan L. Niederauer, CEO, NYSE Euronext. "With Liffe, NYSE Arca Options and our pending acquisition of the Amex Options business, NYSE Euronext has a strong and innovative global derivatives franchise."
"CME Group is pleased to transition its precious metals products to NYSE Euronext," said Terry Duffy, CME Group Executive Chairman. "This transaction is beneficial for our current metal customers, and at the same time, maintains the integrity of our exclusive agreement to list NYMEX and COMEX products on our CME Globex® electronic trading platform."
"We will work closely with NYSE Euronext to ensure a seamless transition in the trading of these products," said Craig Donohue, CME Group Chief Executive Officer. "With the continuation of the LIFFE CONNECT technology and the retention of CME Clearing in the interim, we believe our customers will encounter minimal, if any, inconveniences."
Hugh Freedberg, Group Executive Vice President and Head of Global Derivatives at NYSE Euronext, added: "This acquisition will enable us to leverage Liffe's global distribution network, leading edge technology, and broad range of risk management products for the benefit of our diverse customer base. We expect a smooth transition for customers, as the CME Group Metals Complex operates on a version of our LIFFE CONNECT platform."
The precious metals market was launched by the Chicago Board of Trade in October 2001, making it the first all-electronic gold and silver complex with an electronic delivery system. In 2007, the CME Group Metals Complex traded over 11 million contracts, representing an average daily volume of more than 45,000 contracts in a highly focused product complex that consists of gold futures (mini-and full-sized), gold options, silver futures (mini-and full-sized), and silver options.
About NYSE Euronext
NYSE Euronext (NYX) operates the world's leading and most liquid exchange group, and seeks to provide the highest levels of quality, customer choice and innovation. Its family of exchanges, located in six countries, include the New York Stock Exchange, the world's largest cash equities market; Euronext, the Eurozone's largest cash equities market; Liffe, Europe's leading derivatives exchange by value of trading; and NYSE Arca Options, one of the fastest growing U.S. options trading platforms. NYSE Euronext offers a diverse array of financial products and services for issuers, investors and financial institutions in cash equities, options and derivatives, ETFs, bonds, market data, and commercial technology solutions. NYSE Euronext's nearly 4,000 listed companies represent a combined $30.5 trillion/E20.9 trillion in total global market capitalization (as of Dec. 31, 2007 ), more than four times that of any other exchange group. NYSE Euronext's equity exchanges transact an average daily trading value of approximately $141 billion/E103 billion (as of Dec. 31, 2007 ), which represents more than one-third of the world's cash equities trading. NYSE Euronext is part of the S&P 500 index and the only exchange operator in the S&P 100 index. For more information, please visit www.nyx.com.
About CME Group
CME Group (www.cmegroup.com) is the world's largest and most diverse exchange. Formed by the 2007 merger of the Chicago Mercantile Exchange (CME) and the Chicago Board of Trade (CBOT), 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 its trading floors. 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, agricultural commodities, and alternative investment products such as weather and real estate. CME Group is traded on the New York Stock Exchange and NASDAQ under the symbol "CME."
The Globe logo, CME, Chicago Mercantile Exchange, CME Group, Globex and E-mini, 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. These trademarks are used herein under license. 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.
This press release may contain forward-looking statements, including forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, but are not limited to, statements concerning CME Group's or NYSE Euronext's plans, objectives, expectations and intentions and other statements that are not historical or current facts. Forward-looking statements are based on CME Group's and NYSE Euronext's current expectations and involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such forward-looking statements. Factors that could cause CME Group's or NYSE Euronext's results to differ materially from current expectations include, but are not limited to: CME Group's or NYSE Euronext's ability to implement its strategic initiatives, economic, political and market conditions and fluctuations, government and industry regulation, interest rate risk and U.S. and global competition, and other factors regarding CME Group or NYSE Euronext detailed in the annual reports and other periodic reports filed with the U.S. Securities and Exchange Commission or the French Autorité des Marchés Financiers. In addition, these statements are based on a number of assumptions that are subject to change. Accordingly, actual results may be materially higher or lower than those projected. The inclusion of such projections herein should not be regarded as a representation by CME Group or NYSE Euronext that the projections will prove to be correct. This press release speaks only as of this date. NYSE Euronext and CME Group disclaim any duty to update the information herein.
