The Chicago Mercantile Exchange finally closed its merger with the Chicago Board of Trade yesterday, after a bidding war with the Atlanta-based Intercontinental Exchange.Competition from ICE forced CME to raise its all-share bid by $3 billion to over $11 billion, but shareholders voted to accept the CME's bid yesterday afternoon. The exchanges must now resolve the outstanding issue of membership rights in the Chicago Board Options Exchange. CBOT members will lose their rights to trade on the CBOE once the merger is completed, and will need compensation.
CBOT president Bernard Dan said the merger would leave the exchange "ready to compete in the global environment", sparking speculation of further takeovers ahead.
More on Exchanges
Stock exchange group has “excess cash”, says group CEO
Increased volatility will spur demand for risk management tools in Asia
Onshore derivative market is the focus for Osaka Securities Exchange
China exchange developing technique to reduce margin requirements
Sign up for Risk.net email alerts
Sponsored video: Tradeweb
Multifonds talks to Custody Risk on being nominated for the Post-Trade Technology Vendor of the Year at the Custody Risk Awards 2014
Sponsored webinar: IBM Risk Analytics
Nominated for two technology awards
There are no comments submitted yet. Do you have an interesting opinion? Then be the first to post a comment.