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CME GROUP INC.

(CME)
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London Stock Exchange calls time on CurveGlobal derivatives arm

09/22/2021 | 03:47am EDT
FILE PHOTO: The London Stock Exchange offices in the City of London, Britain

LONDON (Reuters) - The London Stock Exchange Group said it will shut its five-year old derivatives trading arm CurveGlobal after failing to win sufficient market share in interest rate futures from long-established rivals.

CurveGlobal sought to win business in a sector dominated by entrenched rivals Deutsche Boerse and ICE.

The LSE said on its website on Monday that CurveGlobal, launched in 2016, will be shuttered from the close of trading on January 28, 2022.

In June 2019, LSEG CEO David Schwimmer said CurveGlobal was finally making headway after "bumping along the bottom" since its launch. "We are getting traction now," Schwimmer told a derivatives conference at the time.

The LSE is also focussing on fully integrating its $27 billion acquisition of data and analytics group Refinitiv.

The Chicago Mercantile Exchange, one of the world's biggest derivatives exchanges, had faced similar competition in Europe and closed its loss-making London derivatives arm in 2017.

(Reporting by Huw Jones; editing by Jason Neely)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
CME GROUP INC. 1.70% 217.56 Delayed Quote.17.51%
DEUTSCHE BÖRSE AG -1.60% 147.35 Delayed Quote.7.54%
LONDON STOCK EXCHANGE PLC 0.12% 8074 Delayed Quote.-10.50%
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Analyst Recommendations on CME GROUP INC.
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Financials (USD)
Sales 2021 4 793 M - -
Net income 2021 2 133 M - -
Net Debt 2021 1 858 M - -
P/E ratio 2021 36,7x
Yield 2021 2,92%
Capitalization 78 134 M 78 134 M -
EV / Sales 2021 16,7x
EV / Sales 2022 15,6x
Nbr of Employees 4 370
Free-Float 99,6%
Chart CME GROUP INC.
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CME Group Inc. Technical Analysis Chart | MarketScreener
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Technical analysis trends CME GROUP INC.
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Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 18
Last Close Price 217,56 $
Average target price 216,60 $
Spread / Average Target -0,44%
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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