NYSE Going Further Into Futures & Derivatives (NYX, CME)

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By Douglas A. McIntyre Published
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NYSE Euronext (NYSE: NYX) and CME Group, Inc. (NYSE: CME) announced late today that NYSE would purchase CME Group’s Metals Complex.

NYSE noted that trading of full and e-mini contracts in gold and silver futures and options on futures contracts would begin later this year on LIFFE CONNECT, which is the NYSE Euronext’s derivatives trading system.  The deal and the trading launches are of course subject to regulatory approvals.

The precious metals derivatives contracts currently trade on the e-CBOT, an electronic trading platform managed by Atos Euronext Market Solutions and powered by LIFFE CONNECT.  NYSE Euronext will acquire the CBOT Metals Complex from the CME Group, including its volume and open interest, and CME will provide clearing services for up to 1-year.  In 2007, the CME Group Metals Complex traded more than 11 million contracts, an average daily volume of more than 45,000 contracts.

This might have been slightly larger news if they would have chosen any other day to announce this.

Jon C. Ogg
March 14, 2008

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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