- GAAP diluted EPS of $3.33 - Pro Forma diluted EPS of $3.37 - GAAP
operating margin of 62 percent - Pro forma operating margin of 63
percent CHICAGO, July 23 /PRNewswire-FirstCall/ -- CME Group Inc.
(NASDAQ:CME) today reported that second-quarter GAAP total revenues
increased 15 percent to $648 million, and GAAP operating income
increased 16 percent to $399 million. For the second quarter, net
income on a GAAP basis was $222 million and diluted earnings per
share on a GAAP basis were $3.33. The 2009 GAAP results reflect the
operations of Chicago Mercantile Exchange (CME), Board of Trade of
the City of Chicago (CBOT), and New York Mercantile Exchange
(NYMEX), and include costs of $2.6 million for merger-related
items. The 2008 GAAP results reflect the operations of CME and CBOT
only. Second-quarter pro forma non-GAAP diluted earnings per share
were $3.37, down 14 percent compared with the prior year period.
All pro forma results reflect the operations of both CME Group and
NYMEX as if they were combined for all periods reported, and
second-quarter 2009 pro forma non-GAAP results exclude $2.6 million
of merger-related items mentioned above. Total pro forma revenues
decreased 14 percent from the prior year to $648 million, which was
in line with first-quarter 2009 revenues. Pro forma operating
expenses decreased 13 percent to $243 million, compared with the
same period last year. Second-quarter pro forma operating income
was $405 million, a decrease of 15 percent from $479 million for
the year-ago period. The company's significant focus on expense
management during ongoing challenging market conditions helped
drive a strong pro forma operating margin of 63 percent, up from 61
percent in first-quarter 2009, and in line with the same period a
year ago. Operating margin is defined as operating income as a
percentage of total revenues. Second-quarter 2009 pro forma net
income decreased 15 percent to $224 million, compared with
second-quarter 2008. Pro forma measures do not replace and are not
a substitute for GAAP financial results. They are provided to
improve overall understanding of current financial performance and
to provide a meaningful comparison with prior periods. A full
reconciliation of these second-quarter and first-half 2009 pro
forma results to GAAP results is included with the attached
financial statements. All references to volume and rate per
contract information in the text of this document exclude our
non-traditional TRAKRS products, for which CME Group receives
significantly lower clearing fees than other CME Group products,
Swapstream, and HuRLO products. "As the economy showed signs of
stability, we saw increased volumes in June, particularly in
interest rates, foreign exchange and agricultural markets" said CME
Group Executive Chairman Terry Duffy. "We continued to effectively
manage expenses and generate significant free cash flow, while
extending our product innovation through both exchange-traded and
over-the-counter initiatives. Going forward, we anticipate that
gradual economic improvement will provide further opportunities to
serve existing and new customers around the world with our product
mix, which covers all major asset classes, as well as with our
superb clearing services and technological resources."
"Improvements in the economy, and continued rigor in expense
discipline, contributed to CME Group's solid results in the second
quarter," said CME Group Chief Executive Officer Craig Donohue.
"Second quarter over first quarter, we saw increased volume and
open interest in our interest rate, FX and commodities product
lines, as well as strong open interest growth in our energy and
metals businesses. We also continued to leverage our CME ClearPort
platform, providing a centrally cleared solution for the
over-the-counter (OTC) market in an expanding range of product
areas. Most recently, we announced the upcoming launch of clearing
services for the OTC London gold forwards market beginning in
August." CME Group Inc. Second-Quarter and First-Half 2009 Results
Financial Highlights: GAAP ($s in millions, except per share) Q2
FY09 Q2 FY08 Y/Y 1H09 1H08 Y/Y ------- ------- --- ---- ---- ---
Revenues $648 $563 15% $1,295 $1,188 9% Expenses $249 $220 13% $510
$445 15% Operating Income $399 $344 16% $785 $744 6% Operating
Margin % 61.6% 61.0% 60.6% 62.6% Net Income $222 $201 10% $421 $485
-13% Diluted EPS $3.33 $3.67 -9% $6.33 $8.91 -29% Pro Forma
Non-GAAP ($s in millions, except per share) Q2 FY09 Q2 FY08 Y/Y
1H09 1H08 Y/Y ------- ------- --- ---- ---- --- Revenues $648 $756
-14% $1,295 $1,573 -18% Expenses $243 $277 -13% $496 $556 -11%
Operating Income $405 $479 -15% $799 $1,017 -21% Operating Margin %
62.6% 63.3% 61.7% 64.7% Net Income $224 $264 -15% $437 $566 -23%
Diluted EPS $3.37 $3.93 -14% $6.57 $8.46 -22% NOTE: See the CME
Group Inc. Reconciliation of GAAP to Pro Forma Non-GAAP Measures
for detail related to the adjustments made to reach the pro forma
results. Second-quarter 2009 average daily volume was 10.4 million
contracts, down 19 percent compared with second-quarter 2008, but
in line with first-quarter 2009 volume. Pro forma clearing and
transaction fee revenue was $537 million, down from $639 million in
second-quarter 2008, but up two percent from first-quarter 2009.
Quotation data fees were down five percent to $82 million in the
second quarter due to a decrease in screen counts associated with
layoffs across the financial sector. The total pro forma average
rate per contract for CME Group increased five percent from
second-quarter 2008 to 82 cents, but decreased two percent compared
with 83 cents in first-quarter 2009. Both of these variances were
primarily due to a shift in product mix. Second-quarter 2009 pro
forma non-operating expense was $26 million, driven primarily by
interest expense and borrowing costs of $33 million related to the
NYMEX acquisition, which was offset by $8 million of investment
income. Additionally, the second-quarter 2009 effective tax rate
was 40.8 percent, relatively unchanged from 41.3 percent in
second-quarter 2008. As of June 30, the company had $554 million of
cash and marketable securities and $3.0 billion of debt. During the
quarter, the company paid down approximately $110 million in debt.
CME Group will hold a conference call to discuss second-quarter
2009 results at 8:30 a.m. Eastern Time today. A live audio Webcast
of the call will be available on the Investor Relations section of
CME Group's Web site at http://www.cmegroup.com/. An archived
recording will be available for up to two months after the call.
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. By acting as the buyer to every seller and the seller to
every buyer, CME Clearing virtually eliminates counterparty credit
risk. CME Clearing also offers financial safeguards to help
mitigate systemic risk, providing the security and confidence
market participants need to operate, invest and grow. 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." The Globe logo, CME, Chicago
Mercantile Exchange, CME Group, Globex, E-mini and CME ClearPort
are trademarks of Chicago Mercantile Exchange Inc. CBOT and Chicago
Board of Trade, Inc. are trademarks of the Board of Trade of the
City of Chicago. NYMEX and New York Mercantile Exchange 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/.
Statements in this press release that are not historical facts are
forward-looking statements. These statements are not guarantees of
future performance and involve risks, uncertainties and assumptions
that are difficult to predict. Therefore, actual outcomes and
results may differ materially from what is expressed or implied in
any forward-looking statements. Among the factors that might affect
our performance are: our ability to realize the benefits and
control the costs of our merger with NYMEX Holdings, Inc. and our
ability to successfully integrate the businesses of CME Group and
NYMEX Holdings, including the fact that such integration may be
more difficult, time consuming or costly than expected and revenues
following the merger may be lower than expected and expected cost
savings from the merger may not be fully realized within the
expected time frames or at all; increasing competition by foreign
and domestic entities, including increased competition from new
entrants into our markets and consolidation of existing entities;
our ability to keep pace with rapid technological developments,
including our ability to complete the development and
implementation of the enhanced functionality required by our
customers; our ability to continue introducing competitive new
products and services on a timely, cost-effective basis, including
through our electronic trading capabilities, and our ability to
maintain the competitiveness of our existing products and services;
our ability to adjust our fixed costs and expenses if our revenues
decline; our ability to continue to generate revenues from our
processing services; our ability to maintain existing customers,
develop strategic relationships and attract new customers; our
ability to expand and offer our products in foreign jurisdictions;
changes in domestic and foreign regulations; changes in government
policy, including policies relating to common or directed clearing,
changes as a result of a combination of the Securities and Exchange
Commission and the U.S. Commodity Futures Trading Commission, or
changes relating to the recently enacted or proposed legislation
relating to the current economic crisis; the costs associated with
protecting our intellectual property rights and our ability to
operate our business without violating the intellectual property
rights of others; our ability to generate revenue from our market
data that may be reduced or eliminated by the growth of electronic
trading or declines in subscriptions; changes in our rate per
contract due to shifts in the mix of the products traded, the
trading venue and the mix of customers (whether the customer
receives member or non-member fees or participates in one of our
various incentive programs) and the impact of our tiered pricing
structure; the ability of our financial safeguards package to
adequately protect us from the credit risks of clearing members;
the ability of our compliance and risk management methods to
effectively monitor and manage our risks; changes in price levels
and volatility in the derivatives markets and in underlying fixed
income, equity, foreign exchange and commodities markets; economic,
political and market conditions, including the recent volatility of
the capital and credit markets and the impact of current economic
conditions on the trading activity of our current and potential
customers; our ability to accommodate increases in trading volume
and order transaction traffic without failure or degradation of
performance of our systems; our ability to execute our growth
strategy and maintain our growth effectively; our ability to manage
the risks and control the costs associated with our acquisition,
investment and alliance strategy; our ability to continue to
generate funds and/or manage our indebtedness to allow us to
continue to invest in our business; industry and customer
consolidation; decreases in trading and clearing activity; the
imposition of a transaction tax on futures and options on futures
transactions; the unfavorable resolution of material legal
proceedings, the seasonality of the futures business; and changes
in the regulation of our industry with respect to speculative
trading in commodity interests and derivatives contracts. More
detailed information about factors that may affect our performance
may be found in our filings with the Securities and Exchange
Commission, including our most recent periodic reports filed on
Form 10-K and Form 10-Q, which are available in the Investor
Relations section of the CME Group Web site. We undertake no
obligation to publicly update any forward-looking statements,
whether as a result of new information, future events or otherwise.
CME-E CME Group Inc. and Subsidiaries Consolidated Balance Sheets
(dollars in millions) June 30, December 31, 2009 2008 --------
------------ ASSETS Current Assets: Cash and cash equivalents
$448.7 $297.9 Collateral from securities lending - 426.9 Marketable
securities, including pledged securities 105.4 310.1 Accounts
receivable, net of allowance 282.4 234.0 Other current assets 137.0
189.1 Cash performance bonds and security deposits 8,538.9 17,653.5
------- -------- Total current assets 9,512.4 19,111.5 Property,
net of accumulated depreciation and amortization 725.3 707.2
Intangible assets - trading products 16,982.0 16,982.0 Intangible
assets - other, net of accumulated amortization 3,308.9 3,369.4
Goodwill 7,523.1 7,519.2 Other assets 479.5 469.4 ----- ----- Total
Assets $38,531.2 $48,158.7 ========= ========= LIABILITIES AND
SHAREHOLDERS' EQUITY Current Liabilities: Accounts payable $38.5
$71.0 Payable under securities lending agreements - 456.8
Short-term debt 250.0 249.9 Other current liabilities 179.3 211.8
Cash performance bonds and security deposits 8,538.9 17,653.5
------- -------- Total current liabilities 9,006.7 18,643.0
Long-term debt 2,738.6 2,966.1 Deferred tax liabilities 7,662.3
7,728.3 Other liabilities 142.3 132.7 ----- ----- Total Liabilities
19,549.9 29,470.1 Shareholders' equity 18,981.3 18,688.6 --------
-------- Total Liabilities and Shareholders' Equity $38,531.2
$48,158.7 ========= ========= CME Group Inc. and Subsidiaries
Consolidated Statements of Income (dollars in millions, except per
share amounts, and sharecounts in thousands) Quarter Ended Six
Months Ended June 30, June 30, 2009 2008 2009 2008 ---- ---- ----
---- Revenues Clearing and transaction fees $536.8 $458.5 $1,064.6
$983.6 Quotation data fees 82.1 59.8 167.6 116.6 Processing
services 0.1 18.5 0.2 36.0 Access and communication fees 11.5 10.8
23.1 21.3 Other 17.3 15.6 39.4 30.8 ---- ---- ---- ---- Total
Revenues 647.8 563.2 1,294.9 1,188.3 Expenses Compensation and
benefits 88.0 73.6 174.7 146.9 Communications 11.6 12.8 24.0 27.6
Technology support services 11.6 18.1 23.4 35.1 Professional fees
and outside services 22.4 16.0 44.0 30.8 Amortization of purchased
intangibles 30.5 17.9 63.8 34.1 Depreciation and amortization 30.1
34.5 61.1 68.8 Occupancy and building operations 18.1 17.3 38.2
34.0 Licensing and other fee agreements 21.7 12.0 46.3 25.5
Restructuring 1.4 0.2 4.6 2.0 Other 13.6 17.1 29.6 39.9 ---- ----
---- ---- Total Expenses 249.0 219.5 509.7 444.7 Operating Income
398.8 343.7 785.2 743.6 Non-Operating Income and Expense Investment
income 10.1 12.0 11.9 23.4 Gains (losses) on derivative investments
- (13.0) - (15.2) Securities lending interest income 0.4 - 2.8 23.6
Securities lending interest and other costs 0.3 - (0.1) (19.3)
Interest and other borrowing costs (32.6) (1.4) (71.1) (3.7)
Guarantee of exercise right privileges - (3.6) - 4.8 Equity in
losses of unconsolidated subsidiaries (1.7) (4.0) (2.9) (7.9) Other
non-operating expense (0.4) (0.1) (0.4) (8.5) ---- ---- ---- ----
Total Non-Operating (23.9) (10.1) (59.8) (2.8) Income Before Income
Taxes 374.9 333.6 725.4 740.8 Income tax provision (153.1) (132.4)
(304.5) (256.1) ------ ------ ------ ------ Net Income $221.8
$201.2 $420.9 $484.7 ====== ====== ====== ====== Earnings per
Common Share: Basic $3.34 $3.69 $6.35 $8.96 Diluted 3.33 3.67 6.33
8.91 Weighted Average Number of Common Shares: Basic 66,329 54,500
66,316 54,125 Diluted 66,526 54,752 66,470 54,390 CME Group Inc.
and Subsidiaries Pro Forma Non-GAAP Consolidated Statements of
Income (dollars in millions, except per share amounts, and
sharecounts in thousands) Quarter Ended Six Months Ended June 30,
June 30, 2009 2008 2009 2008 ---- ---- ---- ---- Revenues Clearing
and transaction fees $536.8 $638.9 $1,064.6 $1,343.0 Quotation data
fees 82.1 86.8 167.6 169.8 Processing services 0.1 0.5 0.2 1.0
Access and communication fees 11.5 11.1 23.1 21.9 Other 17.3 18.7
39.4 37.3 ---- ---- ---- ---- Total Revenues 647.8 756.0 1,294.9
1,573.0 Expenses Compensation and benefits 85.4 91.2 173.4 184.1
Communications 11.6 14.2 24.0 30.2 Technology support services 11.6
20.5 23.4 39.5 Professional fees and outside services 20.4 20.8
39.8 37.8 Amortization of purchased intangibles 30.5 31.4 60.9 61.1
Depreciation and amortization 30.1 35.4 61.1 70.7 Occupancy and
building operations 18.1 21.6 38.2 42.7 Licensing and other fee
agreements 21.7 20.9 46.3 45.5 Other 13.1 21.2 28.7 44.0 ---- ----
---- ---- Total Expenses 242.5 277.2 495.8 555.6 Operating Income
405.3 478.8 799.1 1,017.4 Non-Operating Income and Expense
Investment income 7.5 15.3 10.6 32.3 Gains (losses) on derivative
investments - 0.1 - 0.1 Securities lending interest income 0.4 4.8
2.8 36.2 Securities lending interest and other costs 0.3 (4.3)
(0.1) (29.7) Interest and other borrowing costs (32.6) (38.1)
(71.1) (76.2) Equity in losses of unconsolidated subsidiaries (1.7)
(6.0) (2.9) (12.1) ---- ---- ---- ----- Total Non-Operating (26.1)
(28.2) (60.7) (49.4) Income Before Income Taxes 379.2 450.6 738.4
968.0 Income tax provision (154.8) (186.2) (301.5) (401.7) ------
------ ------ ------ Net Income $224.4 $264.4 $436.9 $566.3 ======
====== ====== ====== Earnings per Diluted Common Share $3.37 $3.93
$6.57 $8.46 Weighted Average Number of Diluted Common Shares*
66,526 67,292 66,470 66,929 Note: All pro forma results for CME
Group assume the merger with the CBOT and the acquisition of NYMEX
were completed as of the beginning of the period presented. See CME
Group Inc. Reconciliation of GAAP to Pro Forma Non-GAAP Measures
for detail on all of the adjustments made to reach the pro forma
results. *Weighted average number of diluted common shares includes
merger-related shares converted or issued for the entire period
reported. CME Group Inc. and Subsidiaries Reconciliation of GAAP to
Pro Forma Non-GAAP Measures (in millions) Quarter Ended Six Months
Ended June 30, June 30, 2009 2008 2009 2008 ---- ---- ---- ----
GAAP Results Revenues $647.8 $563.2 $1,294.9 $1,188.3 Expenses
249.0 219.5 509.7 444.7 ----- ----- ----- ----- Operating income
398.8 343.7 785.2 743.6 Non-operating income and expense (23.9)
(10.1) (59.8) (2.8) ----- ----- ----- ---- Income before income
taxes 374.9 333.6 725.4 740.8 Income tax provision (153.1) (132.4)
(304.5) (256.1) ------ ------ ------ ------ Net Income $221.8
$201.2 $420.9 $484.7 ====== ====== ====== ====== Pro Forma
Adjustments Revenues: NYMEX pre-merger revenue $- $210.8 $- $419.7
Intercompany revenue elimination(1) - (18.0) - (35.0) FXMarketSpace
write down - - - - ----- - - Total Pro Forma Revenue Adjustment -
192.8 - 384.7 Expenses: NYMEX pre-merger expense - 71.6 - 147.7
Intercompany expense elimination (1) - (18.0) - (35.0) Deferred
compensation gain/loss reclass(2) (2.6) (0.2) (1.3) 1.6
Amortization of intangibles (3) - 13.5 (2.8) 27.0 Depreciation
adjustment from building life change (4) - 1.5 - 3.0 Other (5)
(3.9) (10.7) (9.8) (33.4) ---- ----- ---- ----- Total Pro Forma
Expense Adjustment (6.5) 57.7 (13.9) 110.9 ---- ---- ----- -----
Adjustment to operating income 6.5 135.1 13.9 273.8 Non-operating
income and expense: NYMEX premerger non-operating income - 31.0 -
32.7 Interest on debt acquired for NYMEX deal - (35.1) - (69.3)
Deferred compensation gain/loss reclass(2) (2.6) (0.2) (1.3) 1.6
Equity investment unusual gain/ loss(6) - (30.6) - (30.6) ERP
Guarantee (7) - 3.6 - (4.8) BM&F Bovespa (8) - 13.2 - 23.8
Green Exchange(9) 0.4 - 0.4 --- - --- Total Pro Forma Non-Operating
Income and Expense Adjustment (2.2) (18.1) (0.9) (46.6) ---- -----
---- ----- Adjustment to income before income taxes 4.3 117.0 13.0
227.2 Adjustment to income tax provision (1.7) (53.8) 3.0 (145.6)
---- ----- --- ------ Adjustment to net income $2.6 63.2 $16.0
$81.6 ==== ==== ===== ===== Pro Forma Non-GAAP Results Revenues
$647.8 $756.0 $1,294.9 $1,573.0 Expenses $242.5 $277.2 $495.8
$555.6 ------ ------ ------ ------ Operating income $405.3 $478.8
$799.1 $1,017.4 Non-operating income and expense (26.1) $(28.2)
(60.7) (49.4) ----- ------ ----- ----- Income before income taxes
379.2 $450.6 738.4 968.0 Income tax provision(10) (154.8) $(186.2)
(301.5) (401.7) ------ ------- ------ ------ Net Income 224.4
$264.4 436.9 566.3 ===== ====== ===== ===== Notes: (1) Eliminate
processing services provided prior to the NYMEX acquisition. (2)
Remove gains and losses related to a deferred compensation plan
that are recorded in compensation with a corresponding offset in
investment income. (3) Add amortization of intangible assets
recorded in purchase of NYMEX. (4) Adjust depreciation for changes
in value and useful life of building acquired from NYMEX. (5)
Reverse effect of restructuring, accelerated depreciation,
integraton and legal expenses related to the merger with CBOT and
the acquisition of NYMEX. Also removes other merger-related
transaction costs that were expensed and transaction costs related
to the acquisition of CMA. (6) Write-down of Optionable as well as
a gain related to TSX Group. (7) Reverse impact of exercise right
privilege guarantee. (8) Reverse transaction costs related to the
BM&F/Bovespa investment. (9) Reverse transaction costs related
to the investment in Green Exchange. (10) Pro forma adjustments are
tax effected at CME Group's estimated statutory tax rate. CME Group
Inc. Quarterly Operating Statistics 2Q 2008 3Q 2008 4Q 2008 1Q 2009
2Q 2009 ------- ------- ------- ------- ------- Trading Days 64 64
64 61 63 Quarterly Average Daily Volume (ADV) CME Group Pro Forma
ADV (Legacy CME Group and NYMEX combined, in thousands) 2Q 2008 3Q
2008 4Q 2008 1Q 2009 2Q 2009 ------- ------- ------- -------
------- Total 12,876 13,236 10,441 10,389 10,438 ----- CME Group
ADV (Legacy CME and CBOT combined, in thousands) Product Line 2Q
2008 3Q 2008 4Q 2008 1Q 2009 2Q 2009 ------------ ------- -------
------- ------- ------- Interest rates 6,467 6,030 3,692 3,843
4,389 Equity E-mini 2,833 3,638 3,799 3,378 2,867 Equity
standard-size 161 204 194 159 121 Foreign exchange 665 710 481 507
568 Commodities & alternative investments 933 822 691 685 818
--- --- --- --- --- Total 11,060 11,404 8,857 8,572 8,762 Venue
----- Open outcry 1,836 1,602 1,275 1,188 1,294 Electronic
(excluding TRAKRS) 9,054 9,641 7,447 7,255 7,331 Privately
negotiated 170 161 136 130 137 --- --- --- --- --- Total 11,060
11,404 8,857 8,572 8,762 NYMEX/COMEX ADV (in thousands) 2Q 2008 3Q
2008 4Q 2008 1Q 2009 2Q 2009 ------- ------- ------- -------
------- NYMEX floor 238 193 166 135 126 NYMEX electronic 865 831
682 798 785 COMEX floor 38 36 29 30 28 COMEX electronic 172 214 144
170 149 NYMEX ClearPort 418 492 489 629 537 Other 85 65 75 54 49 --
-- -- -- -- Total 1,816 1,831 1,584 1,816 1,675 Average Rate Per
Contract (RPC) CME Group Pro Forma Average RPC (Legacy CME Group
and NYMEX combined) 2Q 2008 3Q 2008 4Q 2008 1Q 2009 2Q 2009 -------
------- ------- ------- ------- Total $0.775 $0.785 $0.858 $0.833
$0.816 ----- CME Group RPC (Legacy CME and CBOT combined) Product
Line 2Q 2008 3Q 2008 4Q 2008 1Q 2009 2Q 2009 ------------ -------
------- ------- ------- ------- Interest rates $0.522 $0.521 $0.569
$0.532 $0.525 Equity E-mini 0.668 0.677 0.706 0.677 0.676 Equity
standard-size 1.453 1.486 1.582 1.543 1.570 Foreign exchange 0.907
0.936 0.894 0.918 0.901 Commodities & alternative investments
1.134 1.154 1.154 1.108 1.130 ----- ----- ----- ----- ----- Average
RPC (excluding TRAKRS) $0.648 $0.659 $0.713 $0.677 $0.670 Venue
----- Open outcry $0.572 $0.607 $0.663 $0.607 $0.625 Electronic
(excluding TRAKRS) 0.629 0.637 0.691 0.659 0.648 Privately
negotiated 2.427 2.526 2.558 2.460 2.500 NYMEX/COMEX RPC 2Q 2008 3Q
2008 4Q 2008 1Q 2009 2Q 2009 ------- ------- ------- -------
------- NYMEX floor $1.607 $1.386 $1.600 $1.375 $1.396 NYMEX
electronic 1.304 1.315 1.308 1.347 1.365 COMEX floor 1.712 1.626
1.801 1.776 1.485 COMEX electronic 1.706 1.719 1.781 1.797 1.738
NYMEX ClearPort 1.905 1.933 2.099 1.745 1.806 Other 1.854 1.928
2.038 2.460 2.676 ----- ----- ----- ----- ----- Total Pro Forma
Average Gross Rate $1.556 $1.567 $1.671 $1.569 $1.582 Total Pro
Forma Average Net Rate $1.479 $1.488 $1.569 $1.466 $1.480 Note: All
CME Group volume and rate per contract data is based upon pro forma
results, including the operations of CME Group and NYMEX as if they
were combined for the entire period reported. All data excludes our
non- traditional TRAKRS products, for which CME Group receives
significantly lower clearing fees than other CME Group products.
Additionally, all data excludes Swapstream and HuRLO products.
DATASOURCE: CME Group Inc. CONTACT: Media, Anita Liskey,
+1-312-466-4613, or William Parke, +1-312-930-3467, , or Investors,
John Peschier, +1-312-930-8491, all of CME Group Inc. Web Site:
http://www.cme.com/ http://cmegroup.mediaroom.com/
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