TUESDAY JANUARY 29
Cost Of Absolute Power? Oh, About $11 Billion

After nearly two decades years of lighthearted dalliances, the world’s most formidable trading powerhouse – the Chicago Mercantile Exchange – and the planet’s top energy market – the New York Mercantile Exchange – may finally make it official. That said, we reckon this will be no cakewalk for either: a marriage of the CME and Nymex will no doubt leave many up in arms over the likelihood of this merger putting too much power over the global financial markets into the hands of too few. And let’s not forget about IntercontinentalExchange, Nymex’s biggest rival, which isn’t strictly without tricks up its sleeves when it comes to swooping in at the last minute with a counterbid – especially when it comes to the CME. Since Nymex never does anything the easy way, the more you know about what to expect in advance, the better off you will be.

January 2008

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