You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an alternative browser.
You should upgrade or use an alternative browser.
CME buying CBOT for $8 Billion
- Thread starter late apex
- Start date
From a CME memo to members:
9. Will I have access to CBOT products on CME Globex®?
We expect to move electronically traded products onto CME Globex. We will
communicate information on timing as soon as it is available.
right above.
8. Where will pit trading take place in the new company?
We expect that, after the transaction is completed, all CME¡¯s trading pits will be
relocated to CBOT¡¯s trading floor. We will communicate information on timing of
that relocation as soon as it is available.
9. Will I have access to CBOT products on CME Globex®?
We expect to move electronically traded products onto CME Globex. We will
communicate information on timing as soon as it is available.
right above.
8. Where will pit trading take place in the new company?
We expect that, after the transaction is completed, all CME¡¯s trading pits will be
relocated to CBOT¡¯s trading floor. We will communicate information on timing of
that relocation as soon as it is available.
Quote from rufus_4000:
From a CME memo to members:
9. Will I have access to CBOT products on CME Globex®?
We expect to move electronically traded products onto CME Globex. We will
communicate information on timing as soon as it is available.
right above.
8. Where will pit trading take place in the new company?
We expect that, after the transaction is completed, all CME¡¯s trading pits will be
relocated to CBOT¡¯s trading floor. We will communicate information on timing of
that relocation as soon as it is available.
The CME wisely, has leased it's trading floors since the move to Wacker Drive in '83. It looks like they'll be giving up that space.
Conversely the CBOT has a glut of expensively paid for pits........
Guys, I hate to do this again, but I have to pull up my old post. I called this merger three years ago. I took a lot of shit for that prediction then. Here it is. You heard it here first. Enjoy!
http://www.elitetrader.com/vb/showthread.php?s=&postid=190912&highlight=cme#post190912
http://www.elitetrader.com/vb/showthread.php?s=&postid=190912&highlight=cme#post190912
Quote from Maverick74:
Guys, I hate to do this again, but I have to pull up my old post. I called this merger three years ago. I took a lot of shit for that prediction then. Here it is. You heard it here first. Enjoy!
http://www.elitetrader.com/vb/showthread.php?s=&postid=190912&highlight=cme#post190912
Wow,
You are such the prognasticator. You are probably the only one in the markets who thought this would ever happen eh? You probably cleaned up as you were surely long both exchanges from their IPO's. haha. Did the fact that the back office operations merged long ago not give you a hint? Anyone with half a brain knew it was inevitable! Like either exchange would let a foreign rival cut into our Chicago foothold.
Not much of a predition on your part in my opinion.
Definitely not the news that I wanted to wake up to. This will mean higher fees and trading costs for sure if this gets approved. Eurex US are you still out there?
Quote from ChiBondKing:
i never thought i would see the day..
the cultures are so different at those two exchanges, i hope it works. I'm kinda undecided whether to view this as good news or what.
I hear you and agree. We have heard this stuff talked about for years. But it was always JUST talk. Having traded at both exchanges, they are worlds apart. We will see how BAD this is for commissions. CME is one of the most expensive exchanges on earth. For the retail traders this sucks. Maybe and hopefully I will be wrong.
Interesting to note that the powers that be approved new margin rules for stock trading. Hardly anyone is talking about these new margin rules (they are lowering stock margin and cross asset margining). This is the first time since the great depression that stock margins have been messed with and now this one...the merging of two giants. Coincidence or are the powers that be up to something?