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Ag News
CME Group and Dow Jones Launch Joint Venture
Published Friday, March 19, 2010 at 10:09 AM
"There is an increased demand for index products and services in the marketplace, particularly outside the U.S.," said CME Group Executive Chairman Terry Duffy. "By combining CME Group's resources and expertise in index derivatives trading with Dow Jones' world-class benchmark indices, we will be well positioned to develop and expand our index and market data offerings, fueling growth opportunities across all asset classes."
"We are pleased to announce the completion of our new joint venture with Dow Jones, which will provide us with new growth opportunities across asset classes and around the world," said Craig Donohue, CME Group Chief Executive Officer. "We look forward to building on the strong products and services, as well as client relationships that Dow Jones has developed. Both institutional and retail customers globally rely on Dow Jones' benchmark indexes, particularly the Dow Jones Industrial Average. Together, we expect to create new opportunities for our customers by developing innovative new products and expanding our market data dissemination services to our global network of clients and exchange partners."
Dow Jones & Company will contribute the Dow Jones Indexes business, valued at $675 million, and CME Group will contribute certain market data services, valued at $607.5 million, to the joint venture. CME Group Index Services LLC, has issued $612.5 million in aggregate principal amount of senior notes due 2018, with an annual coupon of 4.4% and an effective rate of 4.6%, which was used to pay a $607.5 million distribution to Dow Jones. The notes are fully and unconditionally guaranteed by CME Group Inc.
About CME Group
CME Group is the leading equity index derivatives marketplace, offering futures and options on key benchmark indexes that cover the spectrum of small-, medium- and large-cap indexes in the U.S., Europe and Asia, including the DJIA as well as the S&P 500, NASDAQ-100, Nikkei 225 Stock Average, MSCI EAFE, FTSE/Xinhua China 25.
As the world's leading and most diverse derivatives marketplace, CME Group (www.cmegroup.com) is where the world comes to manage risk. CME Group exchanges offer the widest range of global benchmark products across all major asset classes, including futures and options based on interest rates, equity indexes, foreign exchange, energy, agricultural commodities, metals, weather and real estate. CME Group brings buyers and sellers together through its CME Globex electronic trading platform and its trading facilities in New York and Chicago. CME Group also operates CME Clearing, one of the largest central counterparty clearing services in the world, which provides clearing and settlement services for exchange-traded contracts, as well as for over-the-counter derivatives transactions through CME ClearPort. These products and services ensure that businesses everywhere can substantially mitigate counterparty credit risk in both listed and over-the-counter derivatives markets.
The Globe logo, CME, Chicago Mercantile Exchange, CME Group, Globex, E-mini and CME ClearPort are trademarks of Chicago Mercantile Exchange Inc. CBOT and Chicago Board of Trade are trademarks of the Board of Trade of the City of Chicago. NYMEX and New York Mercantile Exchange are trademarks of New York Mercantile Exchange, Inc. COMEX is a trademark of Commodity Exchange, Inc. All other trademarks are the property of their respective owners. Further information about CME Group (NASDAQ: CME) and its products can be found at www.cmegroup.com.
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