Showing posts with label NYMEX. Show all posts
Showing posts with label NYMEX. Show all posts

Monday, 1 September 2008

CME Names New York Team

Following its combination with NYMEX Holdings, Inc. earlier this month, CME Group (NASDAQ:CME) , today named the senior leadership team for its New York-based operations.

"As we work to achieve the value that our combination promises to shareholders, customers and members, we are delighted to welcome these talented individuals to leadership positions in the combined company," said CME Group Chief Executive Officer Craig S. Donohue. "With these senior officers in place, we are well positioned to leverage the capabilities of the NYMEX team and expand the NYMEX energy and COMEX metals business and customer base, thereby ensuring that CME Group continues to be where the world comes to manage risk in every asset class."

The company named Bryan Durkin, its current Managing Director and Chief Operating Officer, to lead global integration efforts associated with the NYMEX transaction and to work closely with the following NYMEX senior executives named to continuing roles in the combined company:

-- De'Ana Dow, Managing Director, Government Relations. Dow will be responsible for serving as CME Group's liaison to Washington D.C. and advancing the company's legislative and regulatory agendas. The company also promoted Bo Chambliss as Managing Director, Government Relations. Dow and Chambliss will serve as co-heads of the company's Washington, D.C. office.
-- Sean Keating, Managing Director, NYMEX Operations. Keating will be responsible for all New York-based electronic- and floor-trading operations, as well as facility operations. He will report to Julie Holzrichter, CME Group Managing Director, Global Operations.
-- Thomas LaSala, Managing Director, NYMEX Chief Regulatory Officer. LaSala will oversee all market regulation and regulatory affairs related to the NYMEX self-regulatory organization. He will report to Kathleen Cronin, CME Group General Counsel and Corporate Secretary.
-- Robert Levin, Managing Director, Energy Research & Product Development. Levin will be responsible for all energy and metals product development. He will report to Julie Winkler, CME Group Managing Director, Research & Product Development.
-- Arthur McCoy, Managing Director, NYMEX Clearing. McCoy will manage risk management, clearing operations and audit for the NYMEX division of CME Clearing. He will report to Tim Doar, Managing Director, Risk Management.
-- Joseph Raia, Managing Director, Energy and Metals. Raia will be responsible for building energy and metals customer relationship management and sales programs. He will report to Rick Redding, CME Group Managing Director, Products & Services.
-- Christopher Rodriguez, Managing Director, Business Development. Rodriguez will oversee corporate development efforts in energy and metals asset classes. He will report to Ken Vroman, CME Group Managing Director and Chief Corporate Development Officer.
-- Ian Wall, Managing Director, NYMEX Information Technology. Wall will oversee all technology integration efforts as well as NYMEX technology operations. He will report to Kevin Kometer, CME Group Chief Information Officer.

Friday, 22 August 2008

CME Completes NYMEX Acquisition

CME Group Inc. (NASDAQ:CME) today announced that it has completed its acquisition of NYMEX Holdings, Inc. (NYSE:NMX) . The combined companies will provide customers around the world with access to all major benchmark asset classes, including interest rates, equity indexes, foreign exchange, energy, agricultural commodities and metals. CME Group Class A common stock will continue to trade on the NASDAQ under the ticker symbol "CME." NYMEX Holdings, Inc. common stock is being delisted and will no longer trade on the NYSE.

The merger creates a company with pro forma 2007 annual revenue of $2.7 billion and average trading volume of approximately 14.2 million contracts per day in the first two quarters of 2008. Customers from more than 85 countries trade CME Group products, primarily electronically. Corporate headquarters of the combined company will remain in Chicago at 20 S. Wacker Drive. CME Group's New York office will be located at the NYMEX World Headquarters, One North End Avenue.
"We are extremely pleased to complete our transaction and welcome NYMEX and COMEX into CME Group," said CME Group Executive Chairman Terry Duffy. "This is another milestone for CME Group and NYMEX in our long and successful histories. Together, we will continue operating the largest and most diverse derivatives exchange in the world. We are extremely grateful for the support of NYMEX shareholders, members and employees. As a united company, we are well positioned for a new phase of growth, innovation and product development that will benefit our customers, shareholders and market users around the world."

"We are very proud to have now completed the consolidation of three of the world's most important and successful derivatives exchanges," said CME Group Chief Executive Officer Craig Donohue. "Our NYMEX and COMEX acquisition further strengthens CME Group's leading position in global financial markets and provides significant and valuable new growth opportunities for our shareholders, customers and members. CME Group has a strong track record of delivering cost synergies and realizing revenue and growth opportunities from consolidation transactions and we now look forward to the integration of our two great companies."