CME Group Inc. (CME) Chairman Terry Duffy said Wednesday he
didn't think the competitive landscape would be changed at all if
the proposed combination of NYSE Euronext (NYX) with Germany's
Deutsche Boerse AG (DBOEF, DB1.XE) goes through.
In an interview on Fox Business Network, he said: "It won't
change it at all, we're competing with both Deutsche Boerse and
NYSE's LIFFE division today. ... I don't see it changing the
competitive landscape at all."
He said the companies would benefit from added synergies if the
merger goes through but that CME is expanding its business
throughout Europe and Asia and has now opened a new clearing house
in London providing future growth potential.
Amid a more stringent regulatory climate, Duffy said he feared
and was focused on regulators over reaching into the futures market
as rules are drawn up in the Dodd-Frank financial regulation bill.
"What I'm concerned about is that regulators are trying to impose
additional rules on companies like CME that had nothing to do with
the meltdown of 2008-09," he said.
Duffy said CME would look to organic growth amid the new
competitive and regulatory climate. He said he felt there is "a lot
of business that was conducted in the over-the-counter market that
would look to listed markets" for the cost benefits and
transparency to conduct their business. He added that CME's
acquisition of the Dow Jones Index business gave them an
opportunity to create a whole host of new products to help the
world manage risk.
Website: www.foxbusiness.com
-Dow Jones Newswires; 212-416-2900