CME Group has completed its acquisition of the Kansas City Board of Trade. CME Group Executive Chairman and President Terry Duffy says the integration of these two global wheat benchmarks will provide new trading opportunities to commercial grain market participants, wheat traders and customers who continue to rely on these tools to manage their price risk. CME Group CEO Phupinder Gill said the addition of KCBT would immediately provide significant value to the customers, shareholders and members. They started integrating hard red winter wheat futures and options into their suite of already deep and liquid grain and oilseed products on Monday. Moving forward – Gill says CME Group will work with customers to grow existing KCBT and CBOT wheat futures and options – while developing new and innovative products that will benefit customers of both varieties of wheat.
Source: NAFB News Service