Chicago Mercantile Exchange
The Chicago Mercantile Exchange (CME) (often called "the Chicago Merc," or "the Merc") is an American financial and commodity derivative exchange based in Chicago and located at 20 S. Wacker Drive. The CME was founded in 1898 as the Chicago Butter and Egg Board, an agricultural commodities exchange. Originally, the exchange was a non-profit organization. The Merc demutualized in November 2000, went public in December 2002, and merged with the Chicago Board of Trade in July 2007 to become a designated contract market of the CME Group Inc., which operates both markets. The chief executive officer of CME Group is Craig S. Donohue; Phupinder Gill is the president, Terrence A. Duffy is executive chairman of the board, and Leo Melamed is chairman emeritus. On August 18, 2008, shareholders approved a merger with the New York Mercantile Exchange (NYMEX) and COMEX. The Merc, CBOT, NYMEX and COMEX are now markets owned by the CME Group.
Today, the Merc trades several types of financial instruments: interest rates, equities, currencies, and commodities. It also offers trading in alternative investments, such as weather and real estate derivatives, and has the largest options and futures...
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