(EnergyAsia, October 16, Thursday) — CME Group Inc expects to better serve its energy and commodities customers following the August completion of its acquisition of NYMEX Holdings Inc.
The combined companies will provide customers around the world with access to all major benchmark asset classes, including interest rates, equity indexes, foreign exchange, energy, agricultural commodities and metals.
The merger creates a company with pro forma 2007 annual revenue of $2.7 billion and average trading volume of approximately 14.2 million contracts per day in the first two quarters of 2008. Customers from more than 85 countries trade CME Group products, primarily electronically.
The enlarged company’s corporate headquarters will remain in Chicago, while CME Group’s New York office will be located at the NYMEX World Headquarters, One North End Avenue. Hong Kong will be CME’s regional head office in Singapore, said regional executive and former NYMEX representative in Singapore George Ng.
Interview at www.EnergyAsia.com/component/option,com_seyret/task,videodirectlink/Itemid,1/id,109/.
“We are extremely pleased to complete our transaction and welcome NYMEX and COMEX into CME Group,” said CME group executive chairman Terry Duffy.
“This is another milestone for CME Group and NYMEX in our long and successful histories. Together, we will continue operating the largest and most diverse derivatives exchange in the world. We are extremely grateful for the support of NYMEX shareholders, members and employees. As a united company, we are well positioned for a new phase of growth, innovation and product development that will benefit our customers, shareholders and market users around the world.”
“We are very proud to have now completed the consolidation of three of the world’s most important and successful derivatives exchanges,” said CME group CEO Craig Donohue. “Our NYMEX and COMEX acquisition further strengthens CME Group’s leading position in global financial markets and provides significant and valuable new growth opportunities for our shareholders, customers and members. CME Group has a strong track record of delivering cost synergies and realising revenue and growth opportunities from consolidation transactions and we now look forward to the integration of our two great companies.”