CME Group to Shut European Exchange and Clearing House -<br />By AMIE TSANGAPRIL 12, 2017<br />The CME Group, which operates the Chicago Mercantile Exchange, the Chicago Board of Trade<br />and the New York Mercantile Exchange, will close two European units in a setback for its efforts to expand its global footprint.<br />The London Stock Exchange and Deutsche Börse had been trying to engineer a merger to create Europe’s largest stock market operator, a move intended to create a champion<br />that could better challenge CME Group and the Intercontinental Exchange, which owns the New York Stock Exchange.<br />The company will close CME Europe, a derivatives exchange,<br />and CME Clearing Europe, a clearing house, by the end of the year, William Knottenbelt, the senior managing director for CME International, said in a statement.<br />Aside from CME Europe and CME Clearing Europe, the group deals with about 2.6 million contracts a day for European clients.<br />“Though we have made the business decision to close these London-based entities, we will continue to maintain a significant operation in London to execute our global growth strategy, including serving our European client base, developing innovative products<br />and services, and helping customers effectively manage their risk across every major asset class,” Mr. Knottenbelt said.
