Chicago is My Home

01
Jul

Chicago’s CME Group Extends Rights For Futures, Options Based on NASDAQ

Author: Adam Fendelman, Category: Business

CHICAGO – The CME Group in Chicago said on Monday it has reached an agreement with NASDAQ OMX Group, Inc. to extend its exclusive rights to offer futures and options on future contracts based on the NASDAQ indices through 2019.

The Chicago derivatives exchange also said it will single list CME shares on the NASDAQ and delist itself from the New York Stock Exchange (NYSE) starting on July 11, 2008. CME had listed on the NYSE since it went public in late 2002 and had dual listed with NASDAQ since May 2005.

The seven-year extension of CME’s license rights strengthens the exchange’s growth potential in the equity derivatives market, according to CME CEO Craig Donohue.

“Our decision to single list on NASDAQ recognizes the extraordinary success NASDAQ has achieved in becoming the leading market center for trading in CME Group shares since CME Group first dual listed on both NASDAQ and the New York Stock Exchange on May 2, 2005,” Donohue said in a Monday statement.

As NASDAQ and rival NYSE compete for listings, this makes Monday’s announcement a victory for the newer electronic-based trading platform.

By Megan O’Neil