CME Group Inc.

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  • Mar. 23, 2015, 8:19 AM
    • On that date, both CME Group (NASDAQ:CME) and Intercontinental Exchange (NYSE:ICE) will launch new euro-denominated cocoa contracts, with the winner responsible for a key benchmark affecting the price of the chocolate bar, not to mention incomes for millions of cocoa farmers.
    • Cocoa is already traded in New York and London with contracts controlled by ICE, but CME's first entry into the softs could pave the way to challenge other ICE-dominated markets like sugar and coffee.
    • The winner in the cocoa war, says one trader, will ultimately be the large chocolate end users like Nestle, Mondelez, and Mars.
    • Source: FT
    | Mar. 23, 2015, 8:19 AM
  • Mar. 17, 2015, 3:24 PM
    • CME Group (CME -0.3%) has held talks with BGC Partners (BGCP -0.6%) about buying GFI Group's trading-software units - Trayport and Fenics - after BGC won out over CME and GFI management in a bid for the company.
    • Talks are in the early stages, and the assets could be valued at more than $600M, say sources.
    • Trayport operates a system popular with commodities traders in Europe, while Fenics is for currency options.
    | Mar. 17, 2015, 3:24 PM | 4 Comments
  • Mar. 10, 2015, 3:26 PM
    • CME Group (CME -0.9%) signs a LOI with the Taiwan Futures Exchange regarding the potential listing on TAIFEX of U.S. equity index futures, and the exploration of more collaboration opportunities.
    • CME President Terry Duffy notes strong growth in Asia, with volumes in Q4 up 51% from a year earlier.
    • Previously: CME Group looks to boost Asian business with new appointment (March 9)
    | Mar. 10, 2015, 3:26 PM
  • Mar. 9, 2015, 8:08 AM
    • Christopher Fix has been named as Managing Director and Head of Asia Pacific at CME Group. He'll be based in Singapore and in charge of leading the company's efforts to develop benchmark products and services for that region.
    • He was previously CEO at the Dubai Mercantile Exchange (a JV in which CME is a part of), and is now chairman of that group.
    • Head of International at CME William Knottenbelt notes the company generates 30% of its revenue from outside the U.S..
    | Mar. 9, 2015, 8:08 AM
  • Mar. 4, 2015, 3:48 PM
    • The 10-year paper carries a coupon of 3%, and CME Group will use the net proceeds to pay off $612.5M of 4.4% notes due in three years.
    | Mar. 4, 2015, 3:48 PM
  • Mar. 3, 2015, 7:43 AM
    • February volume of 15.8M contacts per day was up 13% from a year ago, and was the strongest February ever.
    • Interest rate group volume of 8.7M contracts per day gained 27% Y/Y, with Eurodollar volume of 2.8M up 38%.
    • CME flat premarket
    | Mar. 3, 2015, 7:43 AM
  • Feb. 18, 2015, 10:48 AM
    • Impressed with CME Group's (CME -0.1%) presentation at its financial services conference last week, Credit Suisse boosts its Q1 EPS estimate to $0.96 from $0.93, and full-year 2015 to $3.71 from $3.70. 2016 and 2017 estimates are unchanged at $4.10/$4.25.
    • Presentation webcast
    • The $95 price target (from $90) implies a 23 multiple on CS's 2016 estimate. With the stock at $94.14, however, CME garners just a Neutral rating from the team. "While we appreciate CME's diverse product set, best-in-class distribution/clearing platforms and strong free cash flow generation prospects, we see more balanced risk/reward at current valuations."
    | Feb. 18, 2015, 10:48 AM
  • Feb. 6, 2015, 12:07 PM
    • Most analyst commentary is on the cautious side after CME Group (CME +3.8%) beat on both the top and bottom lines.
    • Reiterating his Neutral rating and $90 price target, Credit Suisse's Christian Bolu says operations are strong and expense discipline is there, but all that good stuff has been priced into the stock - now trading at 22x 2016 estimates.
    • Raymond James' Patrick O'Shaughnessy voices similar thoughts.
    • Also reiterating a Hold is S&P Capital IQ's Kenneth Leon, though he hoists his price target by $10 to $95.
    • One bull is Citi's William Katz, who reiterates his Buy rating and $100 price target: 1) Differentiation vs. peers remains robust; 2) CME is the most levered among the exchanges to a pick-up in volatility; 3) Lead indicators are strong; 4) Management is confident on holding the line on expenses; 5) Capital returns - the cash build is better-than-hoped, boding well for a special dividend.
    • Previously: Busy trading action has CME in high cotton (Feb. 5)
    • Previously: CME beats by $0.02, beats on revenue (Feb. 5)
    | Feb. 6, 2015, 12:07 PM
  • Feb. 5, 2015, 4:22 PM
    • Q4 average daily volume of 14.8M contracts up 31% Y/Y, and the highest figure since 2008 Q1. Clearing and transaction fee revenues of $713M up 24%. Average rate per contract of $0.731 vs. $0.725 in Q3 thanks to a higher proportion of volume coming from commodities products.
    • Q4 earnings of $306.5M or $0.91 per share vs. $193.1M and $0.58 one year ago. Excluding some items, this year's EPS was $0.95.
    • Conference call at 4:30 ET
    • Previously: CME beats by $0.02, beats on revenue (Feb. 5)
    • CME +0.2% after hours
    | Feb. 5, 2015, 4:22 PM
  • Feb. 5, 2015, 4:14 PM
    • CME (NASDAQ:CME): Q4 EPS of $0.95 beats by $0.02.
    • Revenue of $841.1M (+22.4% Y/Y) beats by $11.15M.
    | Feb. 5, 2015, 4:14 PM
  • Feb. 4, 2015, 6:34 PM
    • With pit volumes declining to just 1 percent of daily futures, CME Group (NASDAQ:CME) plans to close most of its open outcry futures trading pits in Chicago and New York. What'll we do, Mortimer?
    • The move will take place by July 2 and spare the floor-based S&P 500 futures market, as well as most options markets (which CME says continue to trade actively on floor and screen).
    • In Chicago, all pits will be located on a single floor in the Financial Room by September.
    • When the London Metal Exchange moves next year, it's taking along its red leather benches that form the last open outcry pit of its kind in Europe.
    | Feb. 4, 2015, 6:34 PM | 1 Comment
  • Feb. 4, 2015, 5:35 PM
  • Feb. 3, 2015, 7:43 AM
    • CME January volume of 15.6M contracts per day was up 21% from a year ago.
    • Interest rate volume of 7.7M contracts per day up 22% Y/Y, with Eurodollar futures of 3M, up 16%.
    • Forex volume of 996K contracts per day up 21%. Agricultural commodities volume of 1.1M up 11%. Energy volume of 2.2M up 19%.
    | Feb. 3, 2015, 7:43 AM
  • Jan. 30, 2015, 3:37 PM
    • The joint CME Group/GFI Group (NYSE:GFIG) management bid of $5.85 per share in cash and stock has lost a in a shareholder vote, reports Bloomberg, paving the way for BGC Partners' (BGCP -2.6%) $6.10 all-cash offer.
    • GFI management had warned shareholders there was nothing stopping BGC Partners from pulling its offer, and - for now - the stock price is behaving as if this could be so. GFIG is lower by 1.1% to $5.62 per share.
    • Previously: GFI Group's Gooch makes another plea (Jan. 29)
    | Jan. 30, 2015, 3:37 PM | 5 Comments
  • Jan. 29, 2015, 2:59 PM
    | Jan. 29, 2015, 2:59 PM | 5 Comments
  • Jan. 29, 2015, 7:55 AM
    | Jan. 29, 2015, 7:55 AM | 2 Comments
Company Description
CME Group Inc, through its futures exchanges & clearing houses, serves the risk management & investment needs of customers. It offers products like futures & options, foreign exchange, energy, agricultural commodities, weather derivatives & real estate.