CME completes Kansas City Board of Trade deal
CME Group completes $126 million acquisition of Kansas City Board of Trade
CHICAGO (AP) -- CME Group has completed its acquisition of the Kansas City Board of Trade, the options and futures exchange operator said Monday.
The company said in October that it would be buying the Kansas City Board of Trade for $126 million in cash.
CME said the deal will provide customers of both companies with new trading opportunities and additional products to manage their global wheat price risk. The Kansas City Board of Trade is the leading futures market for hard red winter wheat. CME Group Inc. runs several exchanges, including a key wheat futures and options market.
CME President Terry Duffy said the integration of these two global wheat benchmarks will provide new trading opportunities to commercial grain market participants, wheat traders and customers who continue to rely on these tools to manage their price risk.
CME Group Inc. shares added 48 cents to $55.75 in midday trading. The stock has changed hands between $44.94 and $60.92 in the past 52 weeks.
