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CME Gets NYMEX Go-Ahead

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Today shareholders gave the CME Group, the world’s largest derivatives exchange, the go-ahead to acquire NYMEX. CME Group was formed last year when the Chicago Board of Trade and Chicago Mercantile Exchange joined forces. The deal with the parent company of the New York Mercantile Exchange was hard fought.

Terry Duffy is the Chairman of the CME Group.

DUFFY: We believe that we will be able to do things together as a combined company that we were unable to do individually. And this is a very exciting day not just for Chicago, not just for New York, but for the financial markets overall.

The deal will give the CME Group the ability to trade energy and metals contracts. It’s expected to close on Friday.

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