The CME has started to talk with the New York Mercantile Exchange about buying a piece of their energy market. Flush with cash the Chicago Merc is hoping to buy a portion of the exchange from the 816 seat holders. They are not even close on a deal but this would work out well for everyone. CME has the big action and NYME has the energy contracts. The full story is here but there won’t be a conclusion for months. I believe the CME share price is a bit extended but at the same time I believe all exchanges are recession proof and great invesments.
