CME Group Inc., the world's largest derivatives exchange, is dropping its New York Stock Exchange listing in favor of a sole listing with the Nasdaq Stock Market. Explaining the change, CME chief executive officer Craig Donohue
said in a statement Nasdaq has become "the leading market center for trading in CME Group shares." The switch marks a coup for Nasdaq, which has been aggressively wooing listings from the older Wall Street stalwart, NYSE, a unit of NYSE Euronext.
Continue reading below
Other companies including software firm CA Inc., brokerage Charles Schwab Financial Corp. and DirecTV Group Inc. have also switched from NYSE to Nasdaq listings.
Nasdaq OMX Group chief executive Bob Greifeld said in a statement that CME chose to list only on Nasdaq after reviewing the efficiency of trading on the exchange. CME Group also unveiled an expanded link with Nasdaq, under which CME will receive an extension on its exclusive rights to offer futures and options on futures contracts based on Nasdaq indices for an additional seven-year period, through 2019. - Donna Block
