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CME Group Inc Class A CME Stock Quote

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Morningstar‘s Stock Analysis CME

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Equity Market Volatility Drives Higher Trading Volume and Revenue for CME in the Second Quarter

Michael Miller Equity Analyst

Analyst Note

| Michael Miller |

Wide-moat-rated CME Group reported strong second-quarter earnings as the company continues to benefit from volatile market conditions, which drove significantly higher trading volume in the firm's equity, interest rate, and foreign exchange futures contracts. CME reported second-quarter revenue of $1.24 billion, which was up 4.9% year over year, or more than 11% when adjusted for the formation of its OSTTRA joint venture with S&P Global. Earnings per share of $1.82 were 28% higher than the prior year's period, as CME benefited from higher revenue and strong cost management. As we incorporate these results, we do not plan to make a material change to our $212 per share fair value estimate for CME.

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Key Statistics CME

Company Profile CME

Business Description

Based in Chicago, CME Group operates exchanges giving investors, suppliers, and businesses the ability to trade futures and derivatives based on interest rates, equity indexes, foreign currencies, energy, metals, and commodities. The CME was founded in 1898 and in 2002 completed its initial public offering. Since then, CME Group has consolidated parts of the industry by merging with crosstown rival, CBOT Holdings in 2007 before acquiring Nymex Holdings in 2008 and NEX in 2018. In addition, the company has a 27% stake in S&P/Dow Jones Indices LLC, making the Chicago Mercantile Exchange the exclusive venue to trade and clear S&P futures contracts. Through CME’s acquisition of NEX in 2018 it has also expanded into cash foreign exchange, fixed income trading, and collateral optimization.

20 South Wacker Drive
Chicago, IL, 60606
T +1 312 930-1000
Industry Financial Data & Stock Exchanges
Most Recent Earnings Jun 30, 2022
Fiscal Year End Dec 31, 2022
Stock Type Cyclical
Employees 3,480

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