Thursday, July 17, 2008
CME to be listed only on Nasdaq
CME Group is canceling its listing on the New York Stock Exchange, moving to a sole listing with Nasdaq OMX Group.
The move from a dual listing on NYSE Euronext's Big Board and the Nasdaq is a coup for the electronic exchange, which fights hard to lure listings from its more established rival.
As part of the deal, Nasdaq OMX agreed to extend by seven years, to 2019, CME's exclusive rights to Nasdaq index futures and options.
CME Chief Executive Craig Donohue said in a statement that the extension would strengthen CME's growth prospects and earnings potential.
CME also has exclusive rights to offer futures and options on Standard & Poor's indexes until 2016 and on Dow Jones indexes until 2014.
Nasdaq OMX Chief Executive Bob Greifeld said in a separate statement that CME chose to list only on Nasdaq after reviewing the amount of trading that happens on Nasdaq's platform.
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