CME Buys New York Merc

Subject: CME Buys New York Merc Mon Mar 17, 2008 9:03 pm

The Chicago and New York future exchanges are joining forces, and the one from the Windy City is doing the buying. Investors couldn’t muster any enthusiasm for either company on what was a largely down day for Wall Street.

Banc of America analyst Christopher Allen said the move could be a "great deal" for CME Group. Allen thinks that CME can increase efficiency and revenue for Nymex. CME has proven a break-out performer in recent years quickly modernizing into from an old-fashioned exchange to a modern and electronic company. (See "Up From The Pits") The Chicago exchange hasn't been fazed by U.S. rumbles of recession and is flying fueled by sky-high prices in metals, oil and agriculture.

http://www.forbes.com/markets/commodities/2008/03/17/cme-nymex-mercantile-markets-equity-cx_md_0317markets33.html
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CME Buys New York Merc

CME Buys New York Merc

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