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CME Misses Expectations

CME Group posts quarterly profit which fell 3 percent and missed analysts’ expectations. Its net income fell to $196 million or $2.93 a share, from $203 million or $3.04 a share, a year earlier. Excluding a tax-related charge and a charge from the early payoff of a term loan, earnings were $3.77 per share. The operator of the Chicago Mercantile Exchange, the Chicago Board of Trade and the New York Mercantile Exchange said its quarterly revenue rose 14 percent to $763 million. The group said its overall trading was up 17 percent, led by a 27 percent jump in trading of interest rate-linked contracts and a 42percent rise in trading of contracts linked to grains and other commodities.