Defying scepticism: CME, which already has a near monopoly over trading in Treasury futures, will add BrokerTec, the largest market for trading Treasuries. — Reuters
LONDON: CME Group Inc has agreed to buy Michael Spencer’s NEX Group Plc in a transatlantic deal that creates a trading venues giant spanning futures to Treasuries and foreign exchange.
CME chief executive officer Terry Duffy is defying industry scepticism about big cross-border exchange mergers by offering a deal that values London-based NEX at £3.9bil (US$5.5bil).
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