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Article: CME Group Does Deals in Brazil, Korea
- Article from:
- Daily News
- Article date:
- October 24, 2007
- Author:
CopyrightCopyright 2007 Daily News. Provided by ProQuest LLC. (Hide copyright information)
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CHICAGO (HedgeWorld.com) - CME Group Inc., the product of the
newly joined Chicago Mercantile Exchange and Chicago Board of Trade,
on Tuesday [Oct. 23] entered into new partnerships with exchanges in
Brazil and Korea.
The Chicago-based commodity and derivatives giant completed an
agreement with the Brazilian Mercantile & Futures Exchange (BM&F),
based in Sao Paulo, Brazil, that will see CME Group take a 10%
equity stake in the Brazilian exchange when the BM&F closes its
initial public offering later this year. In return, the BM&F will
receive a 2% share in CME Group. According to CME Group, the deal is
the first cross-equity arrangement between a U.S. exchange and a
Latin American exchange.
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