CME Group, the global diverse derivatives marketplace, has completed the integration of NYMEX (New York Mercantile Exchange) and COMEX (Commodity Exchange). The company also confirmed that it is on track to deliver an estimated $60m in cost synergies associated with the August 2008 acquisition.
CME Group has completed all major milestones associated with the integration, including integrating membership and fee systems, combining back-end clearing systems, migrating NYMEX and COMEX trading floors into one New York trading facility and integrating front-end clearing systems for both NYMEX and COMEX.
Craig Donohue, CEO of CME Group, said: “We see New York as a vital part of our growth strategy in both exchange-traded and over-the-counter markets. As a result of our integration, we have launched more than 200 energy, metals and agricultural products on CME ClearPort this year and plan to add OTC clearing services for credit derivatives, foreign exchange and interest rate products in the future.
“Additionally, year-over-year monthly volume on CME ClearPort increased 16% in October, with average daily volume of approximately 500,000 contracts, demonstrating that clients continue to value the safety and security of our open clearing services offered through CME ClearPort.”
