Financial Services Industry
Industry: Email Alert RSS FeedShareholders sound off.(Chicago Mercantile Exchange hold first shareholders meeting)(Brief Article)(Statistical Data Included)
Futures (Cedar Falls, Iowa), June, 2001
On a day when it experienced record volumes, the Chicago Mercantile Exchange (CME) held its first shareholders' meeting April 18. Those attending the meeting, this time as shareholders in the newly for-profit organization instead of exchange members, were pleased to hear of the record first quarter profits of $20 million. This com pares to the $2.9 million loss of 2000's first quarter and the $5.9 million loss for all of 2000.
President and CEO Jim McNulty presented the possibility of an initial public offering (IPO) within the next year. Though shareholders voted for the extension of transfer restrictions until March 2 for class A shares, nothing restricts an IPO within that time. McNulty, stressing the need for strategic capital, cited the recent $900 million...
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