Chicago Mercantile Exchange Holdings Inc. and Chicago Board Of Trade Holdings, Inc. announce they have signed a definitive agreement to merge the two organizations to create the most extensive and diverse global derivatives exchange.Chicago Mercantile Exchange Chicago Mercantile Exchange (CME CME - Christian Methodist Episcopal (church) Chicago Mercantile Exchange (CME) is the largest futures exchange in the United States and the second largest exchange in the world for the trading of futures and options on futures. Founded in 1898 as a not-for-profit corporation, in November 2000 CME became the first U.S. financial exchange to demutualize and become a shareholder-owned corporation. Holdings Inc. and Chicago Board Of Trade Holdings, Inc. announce they have signed a definitive agreement to merge the two organizations to create the most extensive and diverse global derivatives exchange. The combined company, to be named CME Group Inc., a CME/ Chicago Board of Trade CME - Coronal Mass Ejection CME - C4I Maritime Extensions CME - Cache-Miss Exception CME - Cadet Medal of Excellence (Canadian Cadet Organization and Royal Canadian Legion) CME - Camera Module Electronics CME - Canadian Manufacturers and Exporters CME - Caribbean Music Expo CME - Carmel Middle School (California) CME - Center for Management and Entrepreneurship) Chicago Board of Trade (CBOT) The second largest futures exchange in the US, and a pioneer in the development of financial futures and options. Company, is expected to transform global derivatives markets, creating operational and cost efficiencies for customers and exchange members Exchange members See: Member firm; seat, while delivering significant benefits to shareholders. Corporate headquarters of the combined organization will remain in Chicago. Based on the closing stock prices of CME and CBOT CBOT - Chicago Board of Trade CBOT - Common Basic Operator Trainer (Navy) on October 16, 2006, the last trading day Last Trading Day The final day that a futures or options contract may trade or be closed out before delivery of the underlying asset must occur.Notes: If the buying and selling parties do not arrange an alternate agreement, the physical commodity must be delivered from the seller to the buyer. prior to the announcement of the merger, the combined company is valued at $25 billion (CME equity $18 billion; CBOT equity $7 billion).
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