CME Group to Shut European Exchange and Clearing House -
By AMIE TSANGAPRIL 12, 2017
The CME Group, which operates the Chicago Mercantile Exchange, the Chicago Board of Trade
and the New York Mercantile Exchange, will close two European units in a setback for its efforts to expand its global footprint.
The London Stock Exchange and Deutsche Börse had been trying to engineer a merger to create Europe’s largest stock market operator, a move intended to create a champion
that could better challenge CME Group and the Intercontinental Exchange, which owns the New York Stock Exchange.
The company will close CME Europe, a derivatives exchange,
and CME Clearing Europe, a clearing house, by the end of the year, William Knottenbelt, the senior managing director for CME International, said in a statement.
Aside from CME Europe and CME Clearing Europe, the group deals with about 2.6 million contracts a day for European clients.
“Though we have made the business decision to close these London-based entities, we will continue to maintain a significant operation in London to execute our global growth strategy, including serving our European client base, developing innovative products
and services, and helping customers effectively manage their risk across every major asset class,” Mr. Knottenbelt said.
