Written by Ellina Badri
Thursday, 17 September 2009 11:29
KUALA LUMPUR: World's largest derivatives exchange, CME Group would be taking a 25% stake in BURSA MALAYSIA BHD []'s derivatives business, chief executive officer Datuk Yusli Mohamed Yusoff said on Sept 17.
The acquisition was a follow-up to an agreement inked on Aug 11, where CME Group would acquire a minor equity stake in the derivatives business and operations of Bursa Malaysia under a proposed collaboration to develop a US dollar crude palm oil futures contract (FCPO).
CME Group chief executive officer Craig Donohue had then said CME would acquire an equity stake in the derivatives business and operations of Bursa Malaysia and Bursa would in turn have equity stake in CME Group.
The minority share swap would be part of the strategic partnership to develop a US dollar FCPO using Malaysia's ringgit contracts for trading at CME Globex -- which is CME Group's electronic trading platform.