CME Group, Osaka Securities Exchange Sign Memorandum of Understanding
September 03 2008 - 5:00AM
PR Newswire (US)
CHICAGO and OSAKA, Japan, Sept. 3 /PRNewswire-FirstCall/ -- CME
Group (NASDAQ:CME), the world's largest and most diverse
derivatives exchange, and Osaka Securities Exchange Co., Ltd.
(OSE), the premier Japanese derivatives and securities exchange,
today announced that they have signed a memorandum of understanding
to pursue opportunities to jointly develop products and services
that will benefit market users globally. "We are pleased to enter
into this MOU with OSE and begin a formal dialogue between our
exchanges," said CME Group Executive Chairman Terry Duffy. "Under
this agreement, we expect to create additional trading
opportunities and increase access to more markets for the customers
of both organizations." "Through this MOU with OSE, we hope to
further extend CME Group's reach into the Asian market place," said
CME Group Chief Executive Officer Craig Donohue. "Currently,
through our respective licensing agreements, we both offer futures
on the Nikkei Stock Average, the Nikkei 225, the most widely traded
Japanese equity index product, during complementary hours -- making
it available to market users virtually around the clock. By working
directly with OSE, we hope to identify additional opportunities to
create new benefits for our customers." OSE President & CEO,
Michio Yoneda said, "We believe that cooperation between CME Group,
the world's largest and most advanced exchange, and OSE, the
Japan's largest derivatives exchange, will be beneficial to
investors in Japan and around the world. Also, we hope this new
partnership will advance the presence of OSE throughout the world.
Especially, the futures products on the Nikkei Stock Average, which
are listed on both of our exchanges and well-established as a
benchmark of the Japanese market, have an intrinsic potential for
further growth through mutual cooperation." CME Group
(http://www.cmegroup.com/) is the world's largest and most diverse
derivatives exchange. Building on the heritage of CME, CBOT and
NYMEX, 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 trading floors in Chicago and New York. 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, energy,
agricultural commodities, metals, and alternative investment
products such as weather and real estate. CME Group is listed on
NASDAQ under the symbol "CME." Osaka Securities Exchange Co., Ltd.
(OSE) is the Japan's largest derivatives exchange. In 2007 total
trading volume of all derivative products hit the record high of
108,916,811 units, up about 79.6 % compared to the previous year.
This year, the year 2008, is the 20th anniversary of the
introduction of Nikkei 225 futures, the flagship product of OSE.
OSE is the first listed exchange in Japan whose shares have been
traded on its own market, "Hercules," since April 2004. For more
information about OSE, please visit http://www.ose.or.jp/e/ The
Globe logo, CME, Chicago Mercantile Exchange, CME Group, Globex and
E-mini, are trademarks of Chicago Mercantile Exchange Inc. CBOT and
Chicago Board of Trade are trademarks of the Board of Trade of the
City of Chicago. NYMEX, New York Mercantile Exchange, and ClearPort
are trademarks of New York Mercantile Exchange. Inc. COMEX is a
trademark of Commodity Exchange, Inc. All other trademarks are the
property of their respective owners. Further information about CME
Group and its products can be found at http://www.cmegroup.com/.
"Nikkei", "Nikkei Stock Average" and "Nikkei 225" are copyrighted
works calculated through methods independently developed by Nikkei,
Inc. (Nikkei) and Nikkei Digital Media, Inc. (Nikkei Digital).
Nikkei and Nikkei Digital own copyrights and any other intellectual
property rights to Nikkei Indexes and the methods used to calculate
Nikkei Indexes. CME-G DATASOURCE: CME Group CONTACT: media, Mary
Haffenberg, +1-312-930-3435, or Allan Schoenberg, +1-312-930-8189,
, or investors, John Peschier, +1-312-930-8491, all of CME Group;
or Toshiyuki Nishikoji of OSE, +81-6-4706-0800, Web site:
http://www.cme.com/
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