The CME Makes a Bid for Nymex
Few industry watchers were shocked when word came on Jan. 28 that the Chicago Mercantile Exchange (CME) wants to snap up the New York Mercantile Exchange (NMX), the big energy and precious-metals bourse, for $11 billion. With complementary product lines, shared technology, and the ongoing drive to consolidate exchanges around the world, the announcement that the two exchanges are in talks "wasn't a huge surprise," says analyst Edward Ditmire of the Fox-Pitt, Kelton research firm.
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