The Chicago Mercantile Exchange (CME), the largest financial market in the world by market value, will acquire the Chicago Board of Trade (CBOT) for roughly $8 billion—a buy that will form the world’s largest derivatives exchange, Bloomberg.com reports.CBOT shareholders are to receive approximately 0.3006 shares of CME Class A stock in exchange for each CBOT share—or a comparable sum of cash—and the new firm, dubbed CME Group, will be 69 percent owned by CME shareholders, according to Bloomberg.com.Customers of the new firm will have access to exchange-traded derivatives based on U.S. interest rate yield curve, equity indexes, foreign exchange, and agricultural and industrial commodities, among other options, Bloomberg.com reports. SUBSCRIBE TO OUR NEWSLETTER From our editors straight to your inbox Get started by entering your email address below. Please enter a valid email address Subscribe Current CME Chairman Terrence Duffy will take the chairman reins at the combined company, and CBOT Chairman Charles P. Carey will take on the vice-chairman post, according to Bloomberg.com. CBOT shares were up roughly 16 percent to $156.20 in early-morning New York trading, and CME shares saw an approximately 4 percent increase to $522.53, Bloomberg.com reports.Related Links: IT at the Chicago Mercantile ExchangeCheck out our CIO News Alerts and Tech Informer pages for more updated news coverage. Related content feature Mastercard preps for the post-quantum cybersecurity threat A cryptographically relevant quantum computer will put everyday online transactions at risk. Mastercard is preparing for such an eventuality — today. By Poornima Apte Sep 22, 2023 6 mins CIO 100 CIO 100 CIO 100 feature 9 famous analytics and AI disasters Insights from data and machine learning algorithms can be invaluable, but mistakes can cost you reputation, revenue, or even lives. These high-profile analytics and AI blunders illustrate what can go wrong. By Thor Olavsrud Sep 22, 2023 13 mins Technology Industry Generative AI Machine Learning feature Top 15 data management platforms available today Data management platforms (DMPs) help organizations collect and manage data from a wide array of sources — and are becoming increasingly important for customer-centric sales and marketing campaigns. By Peter Wayner Sep 22, 2023 10 mins Marketing Software Data Management opinion Four questions for a casino InfoSec director By Beth Kormanik Sep 21, 2023 3 mins Media and Entertainment Industry Events Security Podcasts Videos Resources Events SUBSCRIBE TO OUR NEWSLETTER From our editors straight to your inbox Get started by entering your email address below. Please enter a valid email address Subscribe