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CME GROUP INC.

(CME)
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CME : ARRC Completes Key Milestone in Libor Transition, Recommends SOFR Term Rates

07/30/2021 | 06:16am EDT

In a highly anticipated move today, the Alternative Reference Rates Committee formally recommended CME Group as the administrator for a Secured Overnight Financing Rate term rate-a major milestone in the transition away from Libor.

CME group was selected after a robust RFP process, through which firms were evaluated on technical criteria, firm criteria, public policy criteria and calculation methodology criteria.

With this action, market participants now have access to a forward-looking term rate. The ARRC's formal recommendation of SOFR term rates comes five months before the Dec. 31 deadline for use of Libor In new contracts, and just after the completion of a key change in intradealer trading conventions that took place earlier this week, as part of the 'SOFR First' initiative. The ARRC has previously released conventions and recommended best practices for the use of SOFR term rates.

'With this step, market participants now have every tool they need to transition from Libor,' said Federal Reserve Vice Chairman for Supervision Randal Quarles. 'All firms should be moving quickly to meet our supervisory guidance advising them to end new use of Libor this year.'

(C) 2021 Electronic News Publishing, source ENP Newswire

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Analyst Recommendations on CME GROUP INC.
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Financials (USD)
Sales 2021 4 816 M - -
Net income 2021 2 155 M - -
Net Debt 2021 1 846 M - -
P/E ratio 2021 31,4x
Yield 2021 3,38%
Capitalization 67 751 M 67 751 M -
EV / Sales 2021 14,5x
EV / Sales 2022 13,6x
Nbr of Employees 4 370
Free-Float 99,6%
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Technical analysis trends CME GROUP INC.
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Mean consensus OUTPERFORM
Number of Analysts 18
Last Close Price 188,65 $
Average target price 218,40 $
Spread / Average Target 15,8%
EPS Revisions
Managers and Directors
Terrence A. Duffy Executive Chairman & Chief Executive Officer
John William Pietrowicz Chief Financial Officer & Senior Managing Director
Kevin Dean Kometer Chief Information Officer & Senior MD
Julie Holzrichter Chief Operating Officer & Senior Managing Director
Terry L. Savage Independent Director
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