CME Group to buy NYMEX commodities exchange for 9.4 bln dlrs

0 Comments | AFP, March, 2008

NEW YORK (AFP) — CME Group Inc. will buy NYMEX Holdings, the world's largest physical commodities exchange, in a cash and stock deal worth about 9.4 billion dollars, the companies said Monday.

"This combination will further diversify the company's revenues, with products in every major asset class," CME Group said in a joint statement with NYMEX.

CME, forged from the 2007 merger between the Chicago Mercantile Exchange and the Chicago Board of Trade, claims to be the world's biggest and most diverse exchange.

The Chicago company offers investors a broad range of trading products including futures and options, currencies, commodities and property products. Speculators can also place bets on the weather.

NYMEX Holdings is the parent group of the New...