CME spurns NYSE, hooks up with Nasdaq

CME Group Inc. is moving to a sole listing with the Nasdaq OMX Group Inc., eliminating its listing on the New York Stock Exchange.

The Chicago-based parent company of the Chicago Mercantile Exchange and the Chicago Board of Trade, which has listed its shares on the NYSE since it went public in 2002, will cease listing on the NYSE on July 11, but will continue to use its “CME” ticker symbol.

Under the terms of the deal, Nasdaq OMX of New York will extend CME Group’s exclusive rights to offer futures and options on futures contracts based on Nasdaq indices by seven years, until 2019.

An evening of worldly wines and fashion

IN Practice appears on the web and in IN Daily every Monday. Comments and questions are welcome at IN Editor@InvestmentNews.

INPractice for July: Successful Events from Top Advisers

Week 1: An evening of worldly wines and fashion

Week 2: Gardening is golden (and nutritional)

Week 3: Retirement management simplified: health care options, rollover distribution reviews and assisted-living alternatives

Week 4: Spreading the cheer – a holiday charity event at a local children’s hospital

SEC nominees approved

The Senate Banking Committee today unanimously approved three nominees to be members of the Securities and Exchange Commission.

Elisse Walter, senior executive vice president for regulatory policy and programs for the Financial Industry Regulatory Authority Inc. of Washington and New York, Luis Aguilar, a partner with Atlanta law firm McKenna Long & Aldridge LLP, and Troy Paredes, professor of law and business at Washington University School of Law in St. Louis, were approved 10-0 by the committee.