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Stock Market & Financial Investment News

News For CME From The Last 14 Days
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January 30, 2015
11:46 EDTCMEGFI Group investors reject bid by CME, clearing way for BGC, Bloomberg says
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07:54 EDTCMEOdds stacked against CME bid for GFI Group as vote looms, WSJ says
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January 28, 2015
06:16 EDTCMEBGC Partners urges GFI holders to vote AGAINST CME Group transaction
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January 27, 2015
08:14 EDTCMEMichael Gooch issues open letter to GFI shareholders regarding CME transaction
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05:36 EDTCMECME Group launches cocoa futures on CME Europe
CME Group announced the launch of a physically delivered and a financially settled cocoa futures contract. The launch of a cocoa futures contract for physical delivery will represent CME Group's first entry into deliverable soft commodities. These contracts will be listed on CME Group's European exchange, CME Europe, for first trade date on 30 March, 2015. Both contracts are authorized and approved by the United Kingdom Financial Conduct Authority. The new Physically Delivered Cocoa futures contract, contract code CCP, will respond to demand from the cocoa market for an improved hedging mechanism that better reflects the underlying physical market. The contract design is a result of extensive consultation and collaboration with many of the leading participants in the international cocoa trade and industry.
January 26, 2015
13:43 EDTCMECME Group announce six natural gas contracts on CME Europe
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January 25, 2015
12:37 EDTCMEGFI Group reschedules Special Meeting of GFI stockholders
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January 22, 2015
14:36 EDTCMEGlass Lewis Recommends GFI Group holders vote against merger with CME Group
BGC Partners (BGCP) announced that Glass, Lewis & Co. has recommended that shareholders of GFI Group (GFIG) vote AGAINST the merger agreement with CME Group (CME) at the special meeting of GFI shareholders scheduled for January 27. Howard Lutnick, Chairman and CEO of BGC, said: "We are pleased that, after thorough and independent analysis, Glass Lewis recognizes the 'flawed and conflicted' nature of the proposed CME-GFI management $5.85 stock and cash transaction."
January 21, 2015
09:43 EDTCMEISS recommends GFI shareholders vote against merger with CME Group
BGC Partners (BGCP) announced that Institutional Shareholder Services has recommended that shareholders of GFI Group Inc. (GFIG) vote AGAINST the merger agreement with CME Group (CME) at the special meeting of GFI shareholders scheduled for January 27, 2015. Howard Lutnick, Chairman and CEO of BGC, said: "We are pleased that, after thorough and independent analysis, ISS recognizes the economic inferiority and conflicted nature of the proposed CME-GFI management $5.85 stock and cash transaction, as well as the economic superiority of BGC's $6.10 all-cash offer. We also note that ISS recommends that GFI shareholders tender their shares to BGC as long as the CME-GFI management bid remains below our offer price. We remain fully committed to completing this transaction and urge shareholders to protect the value of their investment in GFI by voting against all of the proposals related to the CME transaction at the special meeting of GFI shareholders. We also remind GFI shareholders to tender their shares into our clearly superior offer in order to receive the higher value to which they are entitled." In its analysis, ISS noted the following regarding the proposed CME transaction: "As the proposed transaction is economically inferior to the unsolicited all-cash competing offer, yet it is not at all clear that unaffiliated shareholders incur any greater downside risk in holding out for the economically superior offer from this ongoing bidding war, shareholders should vote AGAINST the proposed transaction on its current terms….and, if that offer does not improve to at least parity with the BGC bid, tender into the BGC offer instead..."
January 20, 2015
08:39 EDTCMECME raises GFI Group offer to $5.85 per share
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08:37 EDTCMECME raises GFI Group offer to $5.85 per share
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06:09 EDTCMECME Group upgraded to Buy from Neutral at Citigroup
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January 16, 2015
07:09 EDTCMECME Group weekly volatility increases into Q4 and outlook
CME Group February call option implied volatility is at 25, March is at 23, June is at 21; compared to its 26-week average of 19 according to Track Data, suggesting large near term price movement after the expected release of Q4 results on February 5.

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