CME Group interested in Indian market, says group CEO
13 Dec 2007
Mumbai: The CME Group Inc, the world’s largest derivatives exchange that runs the Chicago Mercantile Exchange and the Chicago Board of Trade, is trying to get into the Indian market, its chief executive Craig Donohue said.
"We are very much looking at that," Donohue said at the Goldman Sachs Financial Services CEO Conference in Manhattan.
He said that CME has been talking to Indian regulators and exchanges.
CME is also in discussions on a possible collaboration with the Malaysian stock exchange although it is unlikely to buy a stake in Bursa Malaysia, the current operator of the Malaysian exchange said.
Bursa had earlier said it was in talks with the CME on a potential collaboration but that the discussions were still preliminary and that no terms had been agreed.
“We approach these things through looking at it from a business perspective….We are looking at how we can expand our business. That is our main priority when we talk to potential partners," Bursa chief executive Yusli Yusoff told reporters.
CME Group is the world's largest and most diverse exchange, formed by the 2007 merger of the Chicago Mercantile Exchange Holdings and CBOT Holdings (See: World's largest exchange is born as Chicago Board of Trade - Chicago Mercantile Exchange merge)
CME Group serves the risk management needs of customers around the globe. As an international marketplace, CME Group brings buyers and sellers together on the CME Globex electronic trading platform and on its trading floors.
CME Group offers the widest range of benchmark products available across all major asset classes, including futures and options based on interest rates, equity indexes, foreign exchange, agricultural commodities and alternative investment products such as weather and real estate. CME Group's Class A common stock is traded on the New York Stock Exchange and the Nasdaq Global Select Market under the symbol "CME."
