Commodity Online
NEWYORK: The completion of the acquisition process of Nymex by CME Group Inc. has created the world’s largest and diverse derivatives exchange in the world.

The merger creates a company with pro forma 2007 annual revenue of $2.7 billion and average trading volume of approximately 14.2 million contracts per day in the first two quarters of 2008.

The combined companies will provide customers around the world with access to all major benchmark asset classes, including interest rates, equity indexes, foreign exchange, energy, agricultural commodities and metals.

Customers from more than 85 countries trade CME Group products, primarily electronically. Corporateheadquarters of the combined company will remain in Chicago at 20 S. Wacker Drive. CME Group's New York office will be located at the NYMEX WorldHeadquarters, One North End Avenue.

"We are extremely pleased to complete our transaction and welcome NYMEX and COMEX into CME Group," said CME Group Executive Chairman Terry Duffy. "This is another milestone for CME Group and NYMEX in our long and successful
histories. Together, we will continue operating the largest and most diverse derivatives exchange in the world. We are extremely grateful for the support of NYMEX shareholders, members and employees. As a united company, we are well
positioned for a new phase of growth, innovation and product development thatwill benefit our customers, shareholders and market users around the world."

"We are very proud to have now completed the consolidation of three of the world's most important and successful derivatives exchanges," said CME Group Chief Executive Officer Craig Donohue. "Our NYMEX and COMEX acquisition further strengthens CME Group's leading position in global financial markets and provides significant and valuable new growth opportunities for our shareholders, customers and members. CME Group has a strong track record of delivering cost synergies and realizing revenue and growth opportunities from consolidation transactions and we now look forward to the integration of our two great companies."

The companies also announced they will begin integrating NYMEX business operations in order to achieve approximately $60 million in expected cost synergies. The timetable for integration includes: -- Completing the staffing process 60 days post-closing; -- Integrating membership systems in first-quarter 2009; -- Integrating fee systems in second-quarter 2009;
-- Migrating the NYMEX and COMEX trading floors into one in second-quarter 2009; -- Combining clearing systems in third-quarter 2009; and, -- Integrating price reporting systems in third-quarter 2009