Talk:CME Group

References Used for This Article
Many of the source references are press releases, primary source, we're from the CME website. I agree with the conclusion reached in 2009 this is an advertisement. The CEOs Wikipedia page was being managed by in-house public relations. I would suggest that they rewrite this article to Wikipedia standards — Preceding unsigned comment added by 174.253.160.161 (talk) 18:16, 26 October 2020 (UTC)

The only references used at all for this article all originate from the CME website itself. This article requires more distributed coverage than simply the business explaining itself, otherwise it is only an advertisement... Stevenmitchell (talk) 04:49, 29 August 2009 (UTC) woefully inadequate article — Preceding unsigned comment added by 70.190.100.195 (talk) 01:23, 14 December 2011 (UTC)

Copyright problem removed
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External links modified
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Request for article update
Hello Wikipedia editors. I noticed there was a large edit to this page recently that substantially changed the content. I think many of the deletions were wise, but the article does seem a little sparse now and there seems to be continued confusion throughout about the distinction between CME Group and Chicago Mercantile Exchange.

To be clear, CME Group is the parent company of Chicago Mercantile Exchange and other financial derivatives exchanges (Chicago Board of Trade, New York Mercantile Exchange, etc). The introduction gets this right, but then the History section conflates the two.

I took a stab at correcting this with two new sections (Operations & Mergers and acquisitions) that could replace the current History section. This material includes all of the same basic information, but splits claims into current operational info (Operations) and historical info (Mergers and acquisitions). I also included a revised Awards and honors section that trims that material down to focus only on truly notable recognitions:

Operations
CME Group operates a global derivatives marketplace that allows institutions and individuals to trade futures and options based on interest rates, equity indexes, foreign exchange, energy, metals, and agricultural commodities. The company runs an electronic trading platform, CME Globex, which allows customers in approximately 150 countries to trade futures and options contracts;  The company also operates two cash market businesses: BrokerTec, which facilitates dealer-to-dealer trading for fixed-income markets,  and EBS, which provides foreign exchange spot trading. In addition, CME Group operates CME Clearing, which serves as a counterparty to every cleared transaction, including both listed and OTC derivatives, within the company’s marketplace. The company is headquartered in Chicago, Illinois, and has offices in New York, Washington, and Houston in the U.S., as well as abroad in London, Singapore, Bangalore, Beijing, Belfast, Calgary, Hong Kong, Seoul, Singapore, and Tokyo.

Terrence A. Duffy serves as chairman and chief executive.

Mergers and acquisitions
On October 17, 2006, the Chicago Mercantile Exchange announced a merger with its historical rival the Chicago Board of Trade in an $8 billion deal that would create the world's largest financial market. The merger agreement was approved by shareholders of both companies on July 9, 2007, and closed on July 12, 2007, after which shares in the Chicago Board of Trade were converted into CME shares as agreed, and the overarching holding company launched as CME Group. On January 13, 2008, electronic trading at the Chicago Board of Trade shifted to CME Globex.

On March 17, 2008, CME Group agreed to acquire New York Mercantile Exchange (NYMEX), owner of both the NYMEX exchange and the Commodity Exchange (COMEX), for $8.9 billion in cash and CME Group stock. The New York Times described the deal as providing CME Group with a 'major presence' in energy trading. The deal was formally completed on August 22, 2008.

On February 10, 2010, CME Group agreed to purchase 90% of Dow Jones & Co.'s financial-indexes business, including the Dow Jones Industrial Average. CME Group subsequently contributed Dow Jones Indexes to the formation of S&P Dow Jones Indices in exchange for a 24.4% ownership interest. In April 2013, CME Group purchased the remaining 10% interest in Dow Jones Indexes for $80.0 million. As a result, CME Group's interest in S&P Dow Jones Indices increased from 24.4% to 27.0%.

On October 17, 2012, CME Group announced it would acquire the Kansas City Board of Trade for $126 Million in cash. The deal meant that CME Group would control trading for all wheat products except hard red spring wheat.

On March 29, 2018, CME Group agreed to buy London-based NEX Group for $5.5 billion. The acquisition was completed on November 2, 2018.

Awards and honors
CME Group earned a score of 100% on the Human Rights Campaign's Corporate Equality Index in 2019, 2020, 2021, and 2022.

CME Group was named to the Forbes Blockchain 50 list in 2021 and 2022.

I would also like to suggest cutting the Open outcry section, given that (a) this same content (almost word for word) already exists on the Chicago Mercantile Exchange article, and (b) open outcry is something that has historically occurred at exchanges like Chicago Mercantile Exchange. Given that CME Group is the parent company and not an exchange itself, it doesn't make sense to include that content here.

The reference to CME Span in the article introduction could also be removed, given that the section discussing that software was recently excised.

I have a conflict of interest as I work for CME Group, so I won't be making these changes myself. I am hoping, though, that editors can review what I've put together and provide feedback or simply implement these changes if they seem like an improvement. I realize that I've laid out a lot of changes above, so please do let me know if you have any concerns. My only goal here is to make the article more accurate and readable. Thanks. Lbischel (talk) 23:49, 20 March 2023 (UTC) Country20 (talk) 01:56, 18 April 2023 (UTC)We don't need info in WP about when shareholders approved the deal, what happened to the target company's stock, what the NY Times thought about the deal and when the deal was announced, if we already have the fact that it closed.


 * Hi Country20, thank you for the prompt response. For clarification, I had started putting together a revised Mergers and acquisitions section based on the material already in the article before you deleted said section. So some of the framing in the proposed draft above is reflective of that earlier version. As I was trying to keep details that previous editors seemed to think were important.


 * That said, I agree the chronology of these deals can be trimmed back to only the essential information. How does this revised draft look?

Operations
CME Group operates a global derivatives marketplace that allows institutions and individuals to trade futures and options based on interest rates, equity indexes, foreign exchange, energy, metals, and agricultural commodities. The company runs an electronic trading platform, CME Globex, which allows customers in approximately 150 countries to trade futures and options contracts;  The company also operates two cash market businesses: BrokerTec, which facilitates dealer-to-dealer trading for fixed-income markets,  and EBS, which provides foreign exchange spot trading. In addition, CME Group operates CME Clearing, which serves as a counterparty to every cleared transaction, including both listed and OTC derivatives, within the company’s marketplace. The company is headquartered in Chicago, Illinois, and has offices in New York, Washington, and Houston in the U.S., as well as abroad in London, Singapore, Bangalore, Beijing, Belfast, Calgary, Hong Kong, Seoul, Singapore, and Tokyo.

Terrence A. Duffy serves as chairman and chief executive.

Mergers and acquisitions
On July 12, 2007, Chicago Mercantile Exchange completed a merger with its historical rival the Chicago Board of Trade in an $8 billion deal that created the world's largest financial market. The overarching holding company then launched as CME Group.

On August 22, 2008, CME Group acquired New York Mercantile Exchange (NYMEX), owner of both the NYMEX exchange and the Commodity Exchange (COMEX), for $8.9 billion in cash and CME Group stock.

On February 10, 2010, CME Group agreed to purchase 90% of Dow Jones & Co.'s financial-indexes business, including the Dow Jones Industrial Average. CME Group subsequently contributed Dow Jones Indexes to the formation of S&P Dow Jones Indices in exchange for a 24.4% ownership interest. In April 2013, CME Group purchased the remaining 10% interest in Dow Jones Indexes for $80.0 million. As a result, CME Group's interest in S&P Dow Jones Indices increased from 24.4% to 27.0%.

On December 3, 2012, CME Group acquired the Kansas City Board of Trade for $126 Million in cash.

On November 2, 2018, CME Group acquired the London-based NEX Group for $5.5 billion.

Awards and honors
CME Group earned a score of 100% on the Human Rights Campaign's Corporate Equality Index in 2019, 2020, 2021, and 2022.

CME Group was named to the Forbes Blockchain 50 list in 2021 and 2022.


 * As you can see, I trimmed back all of the Mergers and acquisitions details except for the Dow Jones paragraph, as the different components of that deal all seem notable.


 * Please let me know what you think and thank you again for looking into this. Lbischel (talk) 20:45, 20 April 2023 (UTC)

I agree that the open outcry and SPAN sections are out of place. The proposed changes look good to me. I'll be happy to take on a shot at cleaning this if no one else wants to. Cara Wellington (talk) 06:28, 26 April 2023 (UTC)


 * Hi Cara Wellington, thank you for offering to help. Please let me know if you have any questions about the suggestions above. I've tried to provide explanations and summaries of my proposed edits, but happy to explain further. Lbischel (talk) 19:40, 2 May 2023 (UTC)

I've completed merging your proposed edits to the article. Cara Wellington (talk) 08:55, 22 May 2023 (UTC)


 * Thank you so much, Cara Wellington, for taking the time to review my request and then implementing these changes. I really think the article is much stronger as a result, and the distinction between CME Group and Chicago Mercantile Exchange is now clear.
 * I do have two additional requests, though, that I'm hoping you can take a look at.
 * First, could we trim back the Awards and honors section? It's obviously nice to show how often CME Group has been recognized for various achievements, but I'm concerned that some editor in the future could find this list to be excessive and then remove the whole thing—especially as one of the bullets isn't even supported by a citation. The last three awards (Human Rights Campaign's Corporate Equality Index, Forbes Blockhain, and WatersTechnology) all seem notable, as these entities all have their own respective Wikipedia articles. Should we cut the rest?
 * Second, the section you added about the 2010 flash crash leads off by stating that "CME Group was at the center" of the event. The rest of the paragraph, though, makes clear that this event impacted several marketplaces. Could we instead say the following:
 * On May 6, 2010, stock indices including the S&P 500, Dow Jones Industrial Average, and Nasdaq Composite, all experienced a flash crash in which prices rapidly collapsed and then quickly rebounded. A contributing cause of the event was actions taken that morning by Navinder Singh Sarao, a British financial trader. Sarao used a spoofing algorithm to place orders for thousands of E-mini S&P 500 stock index futures contracts — which traded on the CME Globex trading platform — and then replaced or modified those orders at least 19,000 times before they were canceled.   CME Group representatives had previously warned Sarao about this kind of trading. The CME Globex platform halted trading in an automated response to the May 6 activity due to the presence of emergency-use regulatory measures referred to as "circuit breakers," while the New York Stock Exchange, which did not have such circuit breaker measures in place, allowed trading to continue.  The flash crash led to the implementation of coordinated cross-market circuit breakers.
 * Does this wording work? Please let me know what you think. Lbischel (talk) 16:48, 26 May 2023 (UTC)
 * No problem. Let me digest your proposed changes for a bit and see what I can do about that part. Cara Wellington (talk) 19:27, 29 May 2023 (UTC)
 * Thank you, Cara Wellington, I look forward to your thoughts once you've had a chance to digest. Lbischel (talk) 19:58, 31 May 2023 (UTC)
 * , I've been reviewing COI edit requests and have flagged this one as answered. Do you still plan on integrating the additional requests? Throast  { { ping }} me! (talk &#124; contribs) 16:29, 22 June 2023 (UTC)
 * Hi, Throast. Cara does not appear to be active at the moment. Is this proposed rewording possibly something you could look at? Should I post as a new request? Lbischel (talk) 21:44, 26 June 2023 (UTC)
 * I've implemented the first out of your two additional requests. In your second request, CME Group isn't mentioned until about halfway into the paragraph. I don't see how all of this preamble is useful. Maybe rephrase the paragraph so that CME's involvement in the situation is clear from the beginning? Throast  { { ping }} me! (talk &#124; contribs) 22:43, 26 June 2023 (UTC)
 * Appreciate you trimming back the awards, Throast. For the second request, how about this wording:
 * Spoofing on the CME Globex trading platform is thought to be a contributing cause to the 2010 flash crash. On May 6, 2010, stock indices including the S&P 500, Dow Jones Industrial Average, and Nasdaq Composite, all experienced a flash crash in which prices rapidly collapsed and then quickly rebounded. So-called "spoofing" trading that morning by Navinder Singh Sarao, a British financial trader, is believed to have contributed to the event. Sarao used a spoofing algorithm to place orders for thousands of E-mini S&P 500 stock index futures contracts — which traded on the CME Globex trading platform — and then replaced or modified those orders at least 19,000 times before they were canceled.   CME Group representatives had previously warned Sarao about this kind of trading. The CME Globex platform halted trading in an automated response to the May 6 activity due to the presence of emergency-use regulatory measures referred to as "circuit breakers," while the New York Stock Exchange, which did not have such circuit breaker measures in place, allowed trading to continue.  The flash crash led to the implementation of coordinated cross-market circuit breakers.  Lbischel (talk) 16:11, 10 July 2023 (UTC)

Request for infobox update
Hello again, Wikipedia editors. I'm back with a very simple request: I'd appreciate it if editors could update the Key people section of the infobox to show that Lynne Fitzpatrick is now CFO, as John W. Pietrowicz has moved to a new role as special adviser. You can find a Form 8-K confirming this transition here, and coverage of the announcement in Reuters here. The Bloomberg profile of Ms. Fitzpatrick also reflects her CFO title.

I have a conflict of interest as I work for CME Group, so I won't be making this change myself. Please let me know if you have any questions. Thanks. Lbischel (talk) 15:44, 22 June 2023 (UTC)
 * ✅. Thanks, . Throast  { { ping }} me! (talk &#124; contribs) 16:33, 22 June 2023 (UTC)