Chicago Board of Trade (CBoT) and Chicago Mercantile
Exchange (CME) have announced an agreement to merge by mid-2007
in an $8bn move which would create the world's largest
derivatives exchange valued at $25bn.
The deal would see the new entity, CME Group, move all of
its combined products onto CME's Globex trading platform and
clearing while open outcry would remain on CBoT's trading
floor. The Group expects pre-tax cost savings of over $125m.
CBoT said that its current platform deal with Atos Euronext
Market Solutions was costing it $20-$25m per year and was to
run until 2008.
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