CME Group and Thomson Reuters to Close FXMarketSpace Joint Venture
LONDON and CHICAGO, Oct 10, 2008 /PRNewswire-FirstCall via COMTEX News Network/ -- CME Group and Thomson Reuters today announced that they will take steps necessary to close FXMarketSpace, the 50/50 joint venture company they introduced in May 2006. All trading on the platform will be suspended at the close of business on 17 October, 2008. During the coming months, CME Group and Thomson Reuters will work closely with FXMarketSpace to ensure an orderly wind down of existing business operations.
Both CME Group's FX futures business and Thomson Reuters FX Spot Matching services continue to reflect strong growth in their respective product lines. CME Group and Thomson Reuters remain committed to offering innovative solutions to the rapidly-growing OTC FX market, and the two companies will explore working together to pursue clearing and operational efficiencies for their customers.
About CME Group
CME Group (Nasdaq: CME) (http://www.cmegroup.com/) is the world's largest and most diverse derivatives exchange. Building on the heritage of CME, CBOT and NYMEX, CME Group serves the risk management needs of customers around the globe. As an international marketplace, CME Group brings buyers and sellers together on the CME Globex electronic trading platform and on trading floors in Chicago and New York. By acting as the buyer to every seller and the seller to every buyer, CME Clearing virtually eliminates counterparty credit risk. CME Clearing also offers $7 billion in financial safeguards to help mitigate systemic risk, providing the security and confidence market participants need to operate, invest and grow. CME Group offers the widest range of benchmark products available across all major asset classes, including futures and options based on interest rates, equity indexes, foreign exchange, energy, agricultural commodities, metals, and alternative investment products such as weather and real estate. CME Group is listed on NASDAQ under the symbol "CME."
About Thomson Reuters
Thomson Reuters is the world's leading source of intelligent information for businesses and professionals. We combine industry expertise with innovative technology to deliver critical information to leading decision makers in the financial, legal, tax and accounting, scientific, healthcare and media markets, powered by the world's most trusted news organization. With headquarters in New York and major operations in London and Eagan, Minnesota, Thomson Reuters employs more than 50,000 people in 93 countries. Thomson Reuters shares are listed on the New York Stock Exchange (NYSE: TRI); Toronto Stock Exchange (TSX: TRI); London Stock Exchange (LSE: TRIL); and Nasdaq (Nasdaq: TRIN). For more information, go to www.thomsonreuters.com.
SOURCE CME Group
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