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Article: Chicago's CME Group in talks to buy Nymex.(New York Mercantile Exchange Inc.)
- Article from:
- The Oil Daily
- Article date:
- January 29, 2008
- Author:
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In what is estimated to be an $11 billion deal, Chicago's CME Group confirmed on Monday that it is in "preliminary discussions" to buy Nymex Holdings, parent company of the New York Mercantile Exchange, home of the US benchmark light, sweet crude futures contract.
If a deal is indeed struck, it would create a heavyweight exchange, trading futures and options across a broad spectrum of commodities, from energy, metals, cattle and pork bellies to currencies and interest rates.
Given the accelerating pace of consolidation among commodity exchanges and the recent history of cooperation between the two companies, Monday's announcement did not come as a ...