What is the Chicago Mercantile Exchange?
The Chicago Mercantile Exchange is a wholly-owned subsidiary of Chicago Mercantile Exchange Holdings Inc. (NYSE: CME), which is a constituent company of the Russell 1000 (R) Index. CME was founded in 1874. Its predecessor was the Agricultural Products Exchange, which was founded by a group of agricultural product distributors. At that time, the main products listed on the exchange were butter, eggs, poultry, and other agricultural products that were not resistant to storage. Over 3,600 CBOT members trade 50 different futures and options products. In 2003, exchange volume reached a record 454 million contracts.
Chicago Mercantile Exchange
- The Chicago Board of Trade (CBOT), established in 1848, is a leading futures and options exchange. Through the exchange
- The Chicago Mercantile Exchange currently has 2,724 members, of which 625 are members of the Chicago Mercantile Exchange.
- Agricultural products: fattening cattle, frozen pork belly, live cattle, live pigs, 8-20 feet of irregular length wood
- On October 17, 2006, the Chicago Mercantile Exchange (CME) and Chicago Futures Exchange (CBOT) announced that they had reached a final agreement on the merger.
- Chicago Mercantile Exchange
- Under the terms of the agreement, CBOT stock holders will receive 0.3006 CME Class A common stock per share, or an equivalent amount of cash.
- The combined company is called CME Group (Chicago Stock Exchange Group) and is headquartered in Chicago. The combined company's total assets are estimated to reach US $ 25 billion, of which CME accounts for US $ 18 billion and CBOT accounts for approximately US $ 7 billion. Former CME Chairman Terrence. Terrence A. Duffy will become chairman of the combined company, and former CBOT chairman Charles P. Carey will be appointed vice chairman, and former CME CEO Craig S. Donohue ( Craig S. Donohue) became CEO of the merged exchange, and former CBOT CEO Bernard W. Dan was assigned to oversee CBOT's business until the merger is completed. The board of directors of the combined CME Group will consist of 29 directors, of which CME will appoint 20 of them and CBOT will appoint 9 of them.
- The combined exchange-traded products will include interest rates, foreign exchange, agricultural and industrial products, energy, and other derivatives such as weather indices. CME said the merger of two industry-leading companies into one company will help consolidate its ability to grow in an increasingly competitive environment. The combined company will become the world's most active exchange, with an average of 9 million contracts traded daily, with a transaction value of nearly $ 4.2 trillion.
- The Chicago Mercantile Exchange Group signed a joint venture with 5 funds, and the Chicago Mercantile Exchange Group Co., Ltd. won the support of 5 new large-scale asset management companies, striving to become the culprit of the financial crisis-the 27 trillion credit default swap business Trading Center. [1]
- The founding members of this joint venture include five giants: Lianbo, BlackRock, Blue Mountain Capital Management, D.EShaw Group and Pacific (601099 shares, market, information, main trading) investment management companies. The Chicago Mercantile Exchange also mentioned in a statement on September 25: Castle Investment Group will also be included, and several large banks will also become its founding members.