CME Group

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What is CME Group

CME Group Inc. (Chicago Mercantile Exchange & Chicago Board of Trade) is an American financial market company operating an options and futures exchange. It owns and operates large derivatives and futures exchanges in Chicago, New York City, and exchange facilities in London, using online trading platforms. It also owns the Dow Jones stock and financial indexes, and CME Clearing Services, which provides settlement and clearing of exchange trades. The exchange-traded derivative contracts include futures and options based on interest rates, equity indexes, foreign exchange, energy, agricultural commodities, rare and precious metals, weather, and real estate. It has been described by The Economist as “The biggest financial exchange you have never heard of.”

The corporate world headquarters are in Chicago in The Loop. The corporation was formed by the 2007 merger of the Chicago Mercantile Exchange (CME) and the Chicago Board of Trade (CBOT). On March 17, 2008, CME Group announced it had acquired NYMEX Holdings, Inc., the parent company of the New York Mercantile Exchange and Commodity Exchange, Inc (COMEX). The acquisition was formally completed on August 22, 2008. The four exchanges now operate as designated contract markets (DCM) of the CME Group.

On February 10, 2010, CME announced its purchase of 90% of Dow Jones Indexes, including the Dow Jones Industrial Average. Dow Jones Indexes subsequently became S&P Dow Jones Indices, in which CME has a 24.4% ownership interest.

On October 17, 2012, CME announced it was acquiring the Kansas City Board of Trade for $126 Million in cash. KCBOT is the dominant venue for the sale of hard red winter wheat. The Chicago Board of Trade is the leading trade platform for soft red winter wheat.

On November 1, 2017 CME announced they will begin trading in Bitcoin futures by the end of 2017, pending regulatory approval. Bitcoin price surged immediately breaking above $7000 benchmark.

CME Group Review Conclusion

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