Court will wait to rule on CBOT exercise rights

(Reuters) - CME Group Inc., the world's largest futures exchange, was
created with the merger of CBOT Holdings Inc. and Chicago
Mercantile Exchange Holdings Inc. in July. The CBOE is the
largest U.S. options market.




The exercise rights allow full members of the Chicago Board
of Trade to trade options on CBOE without owning CBOE
membership.


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UPDATE 2-CME profit rises as historic merger completed

(Reuters) - CHICAGO, July 24 - CME Group Inc. said on Tuesday that quarterly profit rose as the company focused on completing a merger between the two largest U.S. futures exchanges.



CME Group was formed by the purchase of the Chicago Board of Trade's parent by Chicago Mercantile Exchange Holdings, which closed earlier this month.


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CME profit rises as historic merger completed

(Reuters) - Second-quarter net income for CME Holdings was $126 million or $3.57 per share against $109.5 million or $3.12 a year ago.




Excluding expenses related to the merger, second-quarter earnings was $3.69 per share, up 18 percent. Analysts on average had expected net income of $3.66 per share, according to Reuters Estimates.


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CBOT shares to be delisted at close of trade

(Reuters) - The combined entity will be known as CME Group Inc., a
CME/Chicago Board of Trade Company.







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CME beefs up CBOT bid, confident of approval

(Reuters) - Craig Donohue, CME's chief executive, told Reuters in a telephone interview he was "very, very confident" the deal would be approved by CBOT shareholders, who had been calling and emailing all day to voice their approval.




"There has been an absolutely overwhelming response from CBOT shareholders. This is a great development," Donohue said.


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CBOE says won't pull plug on CBOT rights for now

(Reuters) - But those rights will stay intact for now, until the U.S.
Securities and Exchange Commission makes a final ruling on
CBOE's earlier filing on the topic, an exchange spokeswoman
said.




In that filing, CBOE set forth its interpretation that if
CME absorbs CBOT to create CME Group Inc., "there will no
longer be CBOT members who may qualify to become and remain
exerciser members of CBOE."


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ICE bid for CBOT faces uphill battle, analysts say

(Reuters) - "While ICE's bid is superior financially, we get the sense that many CBOT members and long term holders would like to go with CME, given possibly greater integration and competitive risks from CME associated with an ICE deal," Deutsche Bank Securities Inc. analysts Rob Rutschow and Scott Appleby wrote in a research note.




Atlanta-based energy exchange ICE in March offered to buy the Chicago Board of Trade's parent, topping an earlier offer by Chicago Mercantile Exchange Holdings Inc., the largest U.S. futures mart.


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CME says May volume up 12 percent on year

(Reuters) - Volume on the CME Globex electronic trading platform
increased 11 percent from May 2006 to average 4.4 million
contracts a day.




CME said open interest reached a record high 54.3 million
contracts on May 1.


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CBOT defends CME merger proposal

(Reuters) - The letter cited the ability of CME and CBOT to integrate
"quickly and efficiently" with "relatively low execution risk"
compared with the ICE proposal.




"Minimizing surprises ... are in part what makes for a
successful merger," Dan and Carey said.


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