CME Group Denies $16 Billion Bid for Cboe Global Markets amid Rumors

CME Group (Nasdaq: CME), the operator of one of the largest US derivatives exchanges, has denied press reports on a $16 billion bid for the Chicago Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term, Cboe Global Markets. According to the Financial Times, which first produced the article, CME allegedly contacted fellow Cboe for an 'all-share' billionaire deal.

However, the operator issued the following statement: “CME Group denies all rumors that it is in conversations to acquire Cboe Global Markets. The company has not had any discussions with Cboe whatsoever. While the company does not typically comment on rumors or speculation, today’s inaccurate information required correction.” On the other hand, when asked about the alleged bid, Cboe told Financial times that it “does not comment on market rumors or speculations.”

Cboe Global Markets is the current owner of the Vix indices and contracts, plus three stock exchanges, a broad portfolio of share trading and clearing business in Europe, among other products. Also, CME Group offers futures and options on futures trading through the CME Globex® platform, fixed income trading via BrokerTec, and foreign exchange trading on the EBS platform, among other financial assets. As of press time, there are no additional comments from both parties regarding the bid’s rumors.

Recent CME Trading Metrics

Recently, CME Group published its key trading metrics for July. According to the report, the average daily volume (ADV) of Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term came in at 735,000 contracts last month. Though the absolute number looks strong, there was a yearly drop of 3% in forex demand, while the figures went down by 20.7% compared with the previous month’s numbers.

Furthermore, the total ADV of contracts of all asset classes trading on the exchange came in at 17.1 million for the month, which is 25% higher than the numbers reported in July 2020. This figure was at 18.3 million in June 2021.