Banking, finance, and taxes
NYSE Going Further Into Futures & Derivatives (NYX, CME)
Published:
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
Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. If you’re ready to be matched with local advisors that can help you achieve your financial goals, get started now.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.