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CME Group Inc. (CME)

  • Dec. 11, 2014, 11:32 AM
    • The $2 per share annual variable dividend is slightly above the high end of expectations for Sandler O'Neill's Richard Repetto, who ups his price target on Buy-rated CME Group (CME) by $4 to $98.
    • The special payout will reduce cash and equivalents at CME to just $673M, below the company's minimum target of $700M, says Repetto, who notes this is the first time CME has felt comfortable even approaching that floor.
    • Turning to operations, Repetto says current open interest supports a positive volume outlook for next year, especially with more interest rate volatility likely to be on the way.
    • Previously: CME declares $2.00 dividend (Dec. 11, 2014)
    | Comment!
  • Dec. 11, 2014, 6:23 AM
    • CME (NASDAQ:CME) declares annual variable dividend of $2.00/share.
    • Payable Jan 13; for shareholders of record Dec. 29; ex-div Dec. 24.
    | Comment!
  • Dec. 9, 2014, 2:31 PM
    | 1 Comment
  • Dec. 9, 2014, 11:07 AM
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  • Dec. 8, 2014, 7:58 AM
    • KBW rolls out of CME Group (NASDAQ:CME) and into Nasdaq OMX (NASDAQ:NDAQ), downgrading the former to Market Perform while upgrading the latter to Outperform.
    • NDAQ is higher by 17.5% Y/Y, while CME group is ahead 11%.
    | Comment!
  • Dec. 4, 2014, 12:57 PM
    • ICE today announces an agreement with Eris Exchange to list futures and options based on the Eris Methodology, a product design for building swap futures in a capital-efficient manner.
    • The first product launch (set for 2015 H1) under the agreement will be CDS futures based on the Markit CDX North American Investment Grade and High Yield indices.
    • Source: Press Release
    • The move pits ICE against CME Group and Deutsche Boerse (OTCPK:DBOEY) for market share as new rules on derivatives and bank capital reshape the swaps market.
    | Comment!
  • Dec. 3, 2014, 10:41 AM
    • With both offers for GFI Group (GFIG +5%) now at $5.25, BGC Partners (BGCP -1.7%) CEO Howard Lutnick notes his company's proposal is all cash vs. CME Group's (CME) cash and stock mix.
    • "We are currently evaluating our options with regards to the transaction," concludes Lutnick. BGC's tender offer is set to expire at the close of business on December 9.
    • Source: Press Release
    • Previously: CME boosts offer for GFI Group
    | 1 Comment
  • Dec. 3, 2014, 7:42 AM
    • CME Group was already favored to win GFI Group (NYSE:GFIG) over BGC Partners (NASDAQ:BGCP), but the revised offer - $5.25 in cash and stock vs. $4.55 previously - should seal the deal.
    • GFI Group closed at $5.03 last night. BGC's offer is an all-cash one for $5.25.
    • Source: Press Release
  • Dec. 2, 2014, 9:07 AM
    • CME interest rate volume of 6.3M contracts/day up 4% Y/Y, with Eurodollar volume of 1.8M contracts down 8%, but balanced out by stronger Eurodollar options and Treasury futures volume.
    • FX volume of 929K contracts up 29%. Ag volume of 1.3M contracts up 7%. Energy volume of 1.9M contracts up 25%. Metals of 477K contracts up 26%.
    • Source: Press Release
    | Comment!
  • Nov. 24, 2014, 7:53 AM
    • Pending regulatory approval, an iron ore contract is expected to soon be available for action at the CME, giving traders another option as they either hedge their ownership of BHP or RIO, or roll with the brutal bear market, or try and pick a bottom.
    • Source: Press Release
    | Comment!
  • Nov. 20, 2014, 11:59 AM
    • As of November 19, just 23.2M shares of GFI Group (GFIG +1.2%) were tendered, which along with 17.1M shares already owned by BGC Partners (BGCP -0.9%) makes up just shy of 32% of the company.
    • BGC extends its tender offer for $5.25 per share in cash until the end of business on December 9.
    • The GFI board continues to favor CME Group's $4.55 cash and stock offer.
    • Source: Press release
  • Nov. 12, 2014, 4:39 PM
    • DIscussions with GFI Group's (NYSE:GFIG) board's special committee are ongoing, says BGC Partners (NASDAQ:BGCP), but have yet to result in a recommendation for its $5.25 per share cash offer over CME Group's cash and stock offer of $4.55.
    • BGC currently owns 13.4% of GFI Group, which closed today's session at $4.85.
    • Source: Press release
    | 1 Comment
  • Nov. 6, 2014, 8:59 AM
    • The GFI Group (NYSE:GFIG) board earlier this week rejected BGC Partners' (NASDAQ:BGCP) $5.25 per share all-cash offer in favor of CME Group's $4.55 all-stock deal.
    • Reaffirming its commitment to buy GFI, BGCP - an owner of 13.5% of the company - remains confident it will win out over "an inferior transaction involving serious conflicts of interest."
    • Source: Press Release
    | 1 Comment
  • Nov. 5, 2014, 6:13 PM
    • CME Group (NASDAQ:CME) declares $0.47/share quarterly dividend, in line with previous.
    • Forward yield 2.19%
    • Payable Dec. 26; for shareholders of record Dec. 10; ex-div Dec. 8.
    | Comment!
  • Nov. 4, 2014, 10:44 AM
    • CME Group (CME +0.2%) October volume of 17.6M contracts per day was 58% higher than a year ago and a new record for the group of exchanges.
    • Interest rate volume of 9.2M contracts per day up 89% Y/Y, with Eurodollar futures volume of 3.8M up 100%.
    • FX volume of 986K contracts per day up 53%. Ag commodities volume of 1.3M contracts up 30%. Equity index volume of 4M contracts up 50%. Energy volume of 1.8M up 9%.
    • Source: Press Release
    | Comment!
  • Oct. 30, 2014, 7:34 AM
    • Q3 adjusted net income of $280.8M or $0.84 per share compares to net income of $236.7M and $0.71 one year ago.
    • Average daily volume of 13.5M contracts up 12% Y/Y. Clearing and transaction fee revenues of $641.8M up 7%. Total average rate per contract of $0.725 down from $0.749 as the highest growth came from lower-priced contracts.
    • Adjusted operating expenses for full-year 2014 are expected to be about $1.3B - the low end of the previously stated range. 2015 should be about $1.3B as well.
    • Conference call at 8:30 ET
    • CME flat premarket
    • Previously: CME beats by $0.01, misses on revenue
    | Comment!
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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.