CME Group announced today it has successfully migrated e-cbot interest rate futures and options on futures to its CME Globex electronic trading platform. The bigger news of the day, however, was preliminary acquisition discussions between CME Group and Nymex. CME Group confirmed that the two organizations have agreed to a 30-day exclusive negotiating period. Under the terms being discussed, shareholders of Nymex would receive $36 in cash and 0.1323 of a share of CME Group’s common stock (the exchange ratio), in exchange for each Nymex share.CME Group and Nasdaq held a panel discussion today on global trading trends, but did not mention the Nymex talks at the panel. Panelists, including CME CEO Craig Donohue, Nasdaq CEO Bob Greifeld, Matt Andresen, co-head of Citadel, and Kevin Davis, CEO of MF Global, instead discussed various economic issues, including the falling dollar, the importance of speed in electronic trading in their respective organizations and the growth of business in the BRIC region (Brazil, Russia, India, and China). Davis touted MF Global’s growth in China and India in particular, while Donohue mentioned CME’s recent agreement to acquire a 10% stake in the Brazilian exchange. After the panel discussion, journalists mobbed Donohue for information on the possible Nymex deal, but he had no comment beyond CME’s previously released statement.
