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CME and S&P Announce New E-mini Small Cap Stock Index Futures Contracts
CHICAGO, June 19 /PRNewswire-FirstCall/ -- Chicago Mercantile Exchange
(CME), the world's largest and most diverse financial exchange and largest
marketplace for U.S. equity index derivatives trading, and Standard &
Poor's Corporation, a Division of the McGraw Hill Companies, today
announced that they have expanded their successful 25-year partnership to
include the listing of new E-mini Small Cap Stock Index Futures Contracts
based on the successful family of S&P U.S. equity indices, addressing the
needs of institutional asset managers for hedging and managing portfolios
of small cap companies. The new derivatives products will be offered
exclusively on the CME Globex platform and will be supported by dedicated
CME market makers. In response to customer demands and to ensure an orderly
transfer of liquidity, CME intends to list its Russell contracts through
the September 2008 expiration date. Following the expiration of CME's
agreement with Russell, CME and S&P will provide trading incentives and
execution facilities that will encourage market participants to transfer
their open interest in CME Russell 2000 stock index futures contracts into
the new CME/S&P E-mini Small Cap Stock Index Futures Contracts. CME and S&P
also announced today that they plan to develop other new equity and fixed
income products designed to address the full spectrum of institutional
asset management trading needs.
"CME and S&P have enjoyed the most successful and long-term stock index
licensing relationship in the business and have the strongest brand
recognition, product quality and liquidity in today's marketplace for
equity derivatives, said Terry Duffy, CME Executive Chairman. "Though
Russell has decided to move to another exchange, we look forward to
enhancing our relationship with S&P and toward the successful continuation
of our small cap business."
"We value our 25-year relationship with CME," said Robert Shakotko,
Managing Director, Index Services, Standard & Poor's. "Our E-mini S&P 500
futures contract traded at CME has grown 338 percent in the last five
years, from roughly $9 billion in average daily dollar volume in 2002 to
over $90 billion in 2007. As the market leader in equity indices for the
U.S. equity market with the S&P 500(R), S&P Mid-Cap 400(R) and S&P
Small-Cap 600(R) family of products, we look forward to further
strengthening our partnership with CME as we jointly develop new
derivatives products that will further meet the trading and risk management
needs of market users worldwide."
"CME has been the market leader and innovator in stock index futures
markets for more than 25 years. We have developed the most sophisticated
technology, the broadest global distribution and institutional customer
base and the most efficient clearing environment for equity derivatives
transactions," said Craig Donohue, CME Chief Executive Officer. "These
advantages will benefit us tremendously as we vigorously compete in this
segment of the equity derivatives markets."
About CME
CME (http://www.cme.com) is the world's largest and most diverse
derivatives exchange. As an international marketplace, CME brings together
buyers and sellers on the CME Globex(R) electronic trading platform and on
its trading floors. CME offers futures and options on futures in these
product areas: interest rates, stock indexes, foreign exchange,
agricultural commodities, energy, and alternative investment products such
as weather, real estate and economic derivatives. CME is a wholly-owned
subsidiary of Chicago Mercantile Exchange Holdings Inc. (NYSE, Nasdaq:
CME), which is part of the Russell 1000(R) Index and the S&P 500(R) Index.
Chicago Mercantile Exchange, CME, the globe logo, CME Globex and E-mini
are trademarks of Chicago Mercantile Exchange Inc. CLEARING 21 is a
registered trademark of CME and New York Mercantile Exchange, Inc. S&P, S&P
500, NASDAQ-100, Nikkei 225, Russell 1000, Russell 2000, TRAKRS, Total
Return Asset Contracts and other trade names, service marks, trademarks and
registered trademarks that are not proprietary to Chicago Mercantile
Exchange Inc. are the property of their respective owners, and are used
herein under license. Further information about CME and its products is
available on the CME Web site at http://www.cme.com.
About Standard & Poor's
Standard & Poor's, a division of The McGraw-Hill Companies (NYSE: MHP),
is the world's foremost provider of financial market intelligence,
including independent credit ratings, indices, risk evaluation, investment
research and data. With approximately 8,500 employees, including wholly
owned affiliates, located in 21 countries. Standard & Poor's is an
essential part of the world's financial infrastructure and has played a
leading role for more than 140 years in providing investors with the
independent benchmarks they need to feel more confident about their
investment and financial decisions. For more information, visit
http://www.standardandpoors.com.
Statements in this news release that are not historical facts are
forward-looking statements. These statements are not guarantees of future
performance and involve risks, uncertainties and assumptions that are
difficult to predict. Therefore, actual outcomes and results may differ
materially from what is expressed or implied in any forward-looking
statements. More detailed information about factors that may affect our
performance may be found in our filings with the Securities and Exchange
Commission, including our most recent Annual Report on Form 10-K, which can
be obtained at its Web site at http://www.sec.gov. We undertake no
obligation to publicly update any forward-looking statements, whether as a
result of new information, future events or otherwise.
CME Globex and SPCTR are trademarks of Chicago Mercantile Exchange Inc.
E-mini is a service mark of Chicago Mercantile Exchange Inc. S&P, S&P 500
and other trade names, service marks, trademarks and registered trademarks
that are not proprietary to Chicago Mercantile Exchange Inc. are the
property of their respective owners, and are used herein under license.
Further information about CME and its products is available on the CME Web
site at http://www.cme.com.
CME-G
SOURCE Chicago Mercantile Exchange
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