Delayed Market Data Revenue and Expense Savings Will Be a Small Positive Offset in 2018 for CME
CME Group is off to an interesting start for 2017 with relatively strong earnings, but somewhat mixed announcements regarding closing its London-based exchange and clearinghouse and a delay in market data revenue growth. The company reported net income of $400 million, or $1.18 per diluted share, on $929 million of revenue in the first quarter. While CME had record average daily volume of 17.1 million contracts, revenue was up only 2% sequentially and down 1% from the previous year. The slight d...CME Group is a holding company. Through its subsidiaries, the company exchanges provides a range of global benchmark products across asset classes based on interest rates, equity indexes, foreign exchange (FX), agricultural, energy and metal commodities. The company provides futures and options on futures trading across asset classes through its subsidiary, Chicago Mercantile Exchange Inc. (CME) Globex platform, cash and repo fixed income trading via BrokerTec, and cash and OTC FX trading via EBS. In addition, the company operates central counterparty clearing providers, CME Clearing, a division of CME. The company also provides optimization, reconciliation and processing services through TriOptima, Traiana and Reset.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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