CME and GFI Group in strategic deal

|About: CME Group Inc. (CME)|By:, SA News Editor

In a 2-step transaction, CME Group with first acquire all of GFI Group (GFIG +41.2%) for stock worth $4.55 per share. Immediately following the purchase, CME will sell back to a group led by GFI management, GFI Group's wholesale brokerage and clearings businesses, after which they'll continue as private companies.

CME will be left with GFI Group's Trayport - a provider of trading software in the European energy markets - and FENICS - which provides for price discovery, analytics, risk-management, and workflow connectivity services for OTC FX options markets.

The deals are expected to close early next year