CHICAGO – Governor Rod R. Blagojevich today celebrated the consolidation of the Chicago Mercantile Exchange (CME) and the Chicago Board of Trade (CBOT) by ringing the opening bell to start trading at the CBOT building. The merger creates the newly-formed CME Group, a combined entity that is now the world's largest derivatives market.
"I want to congratulate CME Group on their merger of the Chicago Mercantile Exchange with the Chicago Board of Trade and for 160 years of futures trading," said Governor Blagojevich. "The merger of these world-class exchanges will make the financial industry even stronger and more efficient. We in Illinois are proud of the fact that these markets have been an integral part of the financial community that literally began in our state."
The CME group has now completed its move to their new offices at the historic Chicago Board of Trade building at 141 W. Jackson Street. The integration of trading floors has been planned since last summer. The CBOT building is now home to trading for futures and options on grains, livestock, dairy, foreign exchange, U.S. Treasury notes, and more.
"The global strength of this exchange will attract the world's best financial talent and resources to Illinois. This significantly enhances our ability to provide access to capital to help grow businesses, create jobs and improve the quality of life in every region of the state," said Illinois Finance Authority Executive Director Kym M. Hubbard.
The Chicago Board of Trade (CBOT) was established in 1848 and was the world’s oldest futures and options exchange. The Chicago Mercantile Exchange (CME) was founded in 1898 and had the largest options and futures contracts open interest (number of contracts outstanding) of any futures exchange in the world.