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By BLOOMBERG NEWS | October 19, 2006
CHICAGO -- Craig S. Donohue rose through the ranks of the Chicago Mercantile Exchange as a lawyer, becoming chief executive officer without trading contracts on the floor. Now he has made it less likely that a successor will ever work in the pits. The exchange's purchase of the Chicago Board of Trade for about $8 billion caps his three-year effort to link the two exchanges. As a result of the deal, the Chicago Mercantile Exchange Holdings Inc. will close its trading floor and move about six blocks to the Board of Trade building.
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BUSINESS
By Robert Manor and Robert Manor,Chicago Tribune | July 10, 2007
CHICAGO -- Shareholders of the Chicago Board of Trade appear to have approved a merger with the Chicago Mercantile Exchange, creating the largest derivatives market ever. Final vote totals won't be available for several days, but CBOT Chairman Charles Carey said yesterday afternoon that "preliminary indications are this thing is going to pass overwhelmingly." "We are now going to be on the world stage," said Leo Melamed, chairman emeritus of the Merc and the man most responsible for futures trading of financial instruments.
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BUSINESS
By THE BOSTON GLOBE | February 11, 2006
If you get stuck in a snowstorm at Boston's Logan International Airport next month, you probably won't be happy. But in a commodity trading pit in Chicago, investors may be cheering. The Chicago Mercantile Exchange, the biggest U.S. market for futures and options - sophisticated financial mechanisms for betting on the future prices of everything from stocks to bacon and orange juice - says it will offer two new financial contracts pegged to snowfall at Logan and in New York's Central Park.
BUSINESS
By MarketWatch | November 18, 2006
NEW YORK -- NYMEX Holdings Inc.'s initial public offering vaulted 125 percent into the record books yesterday as the top-performing U.S. IPO since 2000. The commodities bourse ended its 134-year run as a private, member-owned exchange with a big splash on Wall Street as the latest financial marketplace to tap into greater profit margins from electronic trading. Its added appeal comes from its leading role in hot energy and metals businesses and its status as a player in the global consolidation of financial marketplaces.
BUSINESS
By Walter Hamilton and Walter Hamilton,Los Angeles Times | October 18, 2006
The United States' two largest futures exchanges announced plans yesterday to merge in an $8 billion deal that reflects the growing role of trading in complex financial instruments tied to interest rates, foreign currencies and even the weather. In the deal, the parent of the Chicago Mercantile Exchange will buy the holding company that runs its longtime rival, the Chicago Board of Trade. The acquisition is part of a wave of consolidation in financial markets, as securities exchanges seek to cut costs, expand product offerings and fortify themselves against global competition.
BUSINESS
By RANDI F. MARSHALL and RANDI F. MARSHALL,NEWSDAY | May 21, 2006
You can protect yourself against stock market losses, you can get a warranty on many big-ticket items, and you can insure yourself against all sorts of unforeseen events. But you can't do anything to protect yourself if the value falls on one of your largest assets: your home. Housing experts, teamed with the Chicago Mercantile Exchange, are hoping to change that. Beginning tomorrow, the exchange will open trading on housing futures and options, allowing homeowners, builders, mortgage financiers and others to hedge against the ups and downs of the housing market by betting on its future.
BUSINESS
By Robert Manor and Robert Manor,Chicago Tribune | July 10, 2007
CHICAGO -- Shareholders of the Chicago Board of Trade appear to have approved a merger with the Chicago Mercantile Exchange, creating the largest derivatives market ever. Final vote totals won't be available for several days, but CBOT Chairman Charles Carey said yesterday afternoon that "preliminary indications are this thing is going to pass overwhelmingly." "We are now going to be on the world stage," said Leo Melamed, chairman emeritus of the Merc and the man most responsible for futures trading of financial instruments.
BUSINESS
By BILL BARNHART | December 12, 2004
TWO RECENT events in Chicago expand the way you think about investing: The Chicago Climate Exchange, which a year ago began trading industrial pollution allowances issued by the U.S. Environmental Protection Agency, launched futures trading Friday in the EPA's sulfur dioxide-emission allowances. The Chicago Mercantile Exchange, a 106-year-old institution that began life as a butter and egg exchange, said it might trade futures contracts on house prices. Investors wisely treat the futures markets with skepticism, despite their simple purpose: Futures are contracts granting the holder the obligation to buy or sell something at a specified price within a specified period.
BUSINESS
By MarketWatch | November 18, 2006
NEW YORK -- NYMEX Holdings Inc.'s initial public offering vaulted 125 percent into the record books yesterday as the top-performing U.S. IPO since 2000. The commodities bourse ended its 134-year run as a private, member-owned exchange with a big splash on Wall Street as the latest financial marketplace to tap into greater profit margins from electronic trading. Its added appeal comes from its leading role in hot energy and metals businesses and its status as a player in the global consolidation of financial marketplaces.
BUSINESS
By Greg Burns and Greg Burns,CHICAGO TRIBUNE | April 22, 2005
The planned merger between the New York Stock Exchange and an upstart electronic market has sent a tremor through the dwindling ranks of people who work on trading floors across the country. For years, those boisterous pits full of traders literally screaming to make a buck have been losing ground to computer screens. Some think the latest deal signals the end of manual labor in a rapidly automating business. Yet the old-fashioned trading method known as open outcry has been counted out prematurely in the past.
BUSINESS
By BLOOMBERG NEWS | October 19, 2006
CHICAGO -- Craig S. Donohue rose through the ranks of the Chicago Mercantile Exchange as a lawyer, becoming chief executive officer without trading contracts on the floor. Now he has made it less likely that a successor will ever work in the pits. The exchange's purchase of the Chicago Board of Trade for about $8 billion caps his three-year effort to link the two exchanges. As a result of the deal, the Chicago Mercantile Exchange Holdings Inc. will close its trading floor and move about six blocks to the Board of Trade building.
BUSINESS
By Walter Hamilton and Walter Hamilton,Los Angeles Times | October 18, 2006
The United States' two largest futures exchanges announced plans yesterday to merge in an $8 billion deal that reflects the growing role of trading in complex financial instruments tied to interest rates, foreign currencies and even the weather. In the deal, the parent of the Chicago Mercantile Exchange will buy the holding company that runs its longtime rival, the Chicago Board of Trade. The acquisition is part of a wave of consolidation in financial markets, as securities exchanges seek to cut costs, expand product offerings and fortify themselves against global competition.
BUSINESS
By RANDI F. MARSHALL and RANDI F. MARSHALL,NEWSDAY | May 21, 2006
You can protect yourself against stock market losses, you can get a warranty on many big-ticket items, and you can insure yourself against all sorts of unforeseen events. But you can't do anything to protect yourself if the value falls on one of your largest assets: your home. Housing experts, teamed with the Chicago Mercantile Exchange, are hoping to change that. Beginning tomorrow, the exchange will open trading on housing futures and options, allowing homeowners, builders, mortgage financiers and others to hedge against the ups and downs of the housing market by betting on its future.
BUSINESS
By THE BOSTON GLOBE | February 11, 2006
If you get stuck in a snowstorm at Boston's Logan International Airport next month, you probably won't be happy. But in a commodity trading pit in Chicago, investors may be cheering. The Chicago Mercantile Exchange, the biggest U.S. market for futures and options - sophisticated financial mechanisms for betting on the future prices of everything from stocks to bacon and orange juice - says it will offer two new financial contracts pegged to snowfall at Logan and in New York's Central Park.
BUSINESS
By Andrew Leckey | June 5, 2005
When Yogi Berra, baseball's king of misguided logic, was asked by a waitress whether he wanted his pizza cut into four or eight slices, he responded: "Better make it four. I don't think I can eat eight." Stock splits are a lot like slicing pizza. Whenever a company splits its shares 2-for-1 or 3-for-1, the investor winds up with more shares, but the value of the investment isn't any greater. Reasonably priced shares tend to attract more money from average investors, giving the stock a boost, but such results are not assured.
BUSINESS
By Greg Burns and Greg Burns,CHICAGO TRIBUNE | April 22, 2005
The planned merger between the New York Stock Exchange and an upstart electronic market has sent a tremor through the dwindling ranks of people who work on trading floors across the country. For years, those boisterous pits full of traders literally screaming to make a buck have been losing ground to computer screens. Some think the latest deal signals the end of manual labor in a rapidly automating business. Yet the old-fashioned trading method known as open outcry has been counted out prematurely in the past.
BUSINESS
By Tami Luhby and Tami Luhby,NEWSDAY | December 12, 2004
After years of watching their homes soar in value, some people are worried housing prices are headed for a fall. The Chicago Mercantile Exchange is hoping to allay those fears with a new financial product that could help homeowners insure themselves against a collapse in prices. The exchange is exploring the development of futures contracts tied to housing prices, the first of their kind. These would allow institutional investors such as insurance companies to make bets on the movement of housing price indexes in specific regions, including the Baltimore-Washington area.
BUSINESS
By Andrew Leckey | June 5, 2005
When Yogi Berra, baseball's king of misguided logic, was asked by a waitress whether he wanted his pizza cut into four or eight slices, he responded: "Better make it four. I don't think I can eat eight." Stock splits are a lot like slicing pizza. Whenever a company splits its shares 2-for-1 or 3-for-1, the investor winds up with more shares, but the value of the investment isn't any greater. Reasonably priced shares tend to attract more money from average investors, giving the stock a boost, but such results are not assured.
BUSINESS
By Tami Luhby and Tami Luhby,NEWSDAY | December 12, 2004
After years of watching their homes soar in value, some people are worried housing prices are headed for a fall. The Chicago Mercantile Exchange is hoping to allay those fears with a new financial product that could help homeowners insure themselves against a collapse in prices. The exchange is exploring the development of futures contracts tied to housing prices, the first of their kind. These would allow institutional investors such as insurance companies to make bets on the movement of housing price indexes in specific regions, including the Baltimore-Washington area.
BUSINESS
By BILL BARNHART | December 12, 2004
TWO RECENT events in Chicago expand the way you think about investing: The Chicago Climate Exchange, which a year ago began trading industrial pollution allowances issued by the U.S. Environmental Protection Agency, launched futures trading Friday in the EPA's sulfur dioxide-emission allowances. The Chicago Mercantile Exchange, a 106-year-old institution that began life as a butter and egg exchange, said it might trade futures contracts on house prices. Investors wisely treat the futures markets with skepticism, despite their simple purpose: Futures are contracts granting the holder the obligation to buy or sell something at a specified price within a specified period.
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