CME could see Nymex as next target traders

Oct 17, 2006 | 02:17 PM |

Chicago Mercantile Exchange Holdings Inc. (CME) could look at acquiring the New York Mercantile Exchange once it has completed its just-announced $8-billion friendly takeover of the Chicago Board of Trade (CBOT), traders said.

One Nymex trader told AMM that there was a general feeling across the trading floor that the exchange could be acquired by the CME within the next two years as it looks to pull all the trading platforms together under one organization. "There is a belief that Nymex will be taken over by Chicago or it will buy enough shares to take a controlling stake within the next couple of years," he said. "It has enough money and firepower to do it."....

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