CME and Cbot to merge



The Chicago Mercantile Exchange (CME) and Chicago Board of Trade (Cbot) are to merge, forming an exchange worth $25 billion.

Speaking to investors, a spokesperson for the management of the two exchanges said: "Cost savings are driving the economics of the merger." The merger is expected to close in the middle of 2007, with improved earnings expected to start 12-18 months later. The combined exchange is expected to save $125 million a year, starting in 2009.

Under the terms of the agreement, Cb

To continue reading...

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: