CHICAGO, Oct. 20 /PRNewswire-FirstCall/ -- CME Group today announced it has completed the staffing process related to its August 2008 acquisition of NYMEX Holdings, Inc. (NYMEX).
NYMEX will continue to maintain its world and national headquarters at One North End Avenue in New York City, with the senior leadership team for NYMEX operations housed in the headquarters facility. The company will continue all NYMEX floor trading operations from its One North End Avenue headquarters.
In addition, NYMEX will implement a workforce reduction of 150 positions over the next 18 to 24 months, reflecting the company's efforts to leverage synergies resulting from the acquisition by CME Group. All individuals whose positions are being eliminated will be informed this week and will be eligible for an enhanced severance package, including outplacement services designed to help employees through their transition. Outplacement services are being offered through Mullin & Associates/BPI.
CME Group (http://www.cmegroup.com/) is the world's largest and most diverse derivatives exchange. Building on the heritage of CME, CBOT and NYMEX, CME Group serves the risk management needs of customers around the globe. As an international marketplace, CME Group brings buyers and sellers together on the CME Globex electronic trading platform and on trading floors in Chicago and New York. By acting as the buyer to every seller and the seller to every buyer, CME Clearing virtually eliminates counterparty credit risk CME Clearing also offers $7 billion in financial safeguards to help mitigate systemic risk, providing the security and confidence market participants need to operate, invest and grow. CME Group offers the widest range of benchmark products available across all major asset classes, including futures and options based on interest rates, equity indexes, foreign exchange, energy, agricultural commodities, metals, and alternative investment products such as weather and real estate. CME Group is listed on NASDAQ under the symbol "CME."
The Globe logo, CME, Chicago Mercantile Exchange, CME Group, Globex and E-mini, are trademarks of Chicago Mercantile Exchange Inc. CBOT and Chicago Board of Trade are trademarks of the Board of Trade of the City of Chicago. NYMEX, New York Mercantile Exchange, and ClearPort are trademarks of New York Mercantile Exchange Inc. COMEX is a trademark of Commodity Exchange, Inc. All other trademarks are the property of their respective owners. Further information about CME Group and its products can be found at http://www.cmegroup.com/. Further information about NYMEX can be found at http://www.nymex.com/.
CME-G
