IntercontinentalExchange, Inc. (NYSE: ICE) today announced it has made a proposal to the Board of Directors of CBOT Holdings, Inc. (NYSE: BOT) to combine the two companies in a stock-for-stock transaction that would create the world’s most comprehensive derivatives exchange.
The combination would result in a premier global futures and over-the-counter derivatives marketplace headquartered in Chicago. The combined company would have a leading presence in the major derivatives categories, including agricultural and energy products, interest rates and metals, and would be supported by integrated clearing capabilities and state-of-the-art trading technology. The transaction would promote competition and innovation in the domestic and global derivatives markets while providing superior opportunities to leverage the complementary strengths of ICE and CBOT to drive growth, customer benefits, and shareholder value.
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