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Share Name | Share Symbol | Market | Type |
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Dow Jones & CO | NYSE:DJ | NYSE | Ordinary Share |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
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0.00 | 0.00% | 0.00 | - |
DOW JONES NEWSWIRES
CME Group Inc. (CME) and Dow Jones & Co. launched their index venture, combining CME's expertise in index derivatives and Dow Jones's benchmark indexes.
The companies agreed to the venture in February. The business will own Dow Jones' stock-indexing business, including the 114-year-old Dow Jones Industrial Average.
"Together, we expect to create new opportunities for our customers by developing innovative new products and expanding our market data dissemination services to our global network of clients and exchange partners," said CME Chief Executive Craig Donohue.
CME has a 90% ownership interest, with the rest owned by Dow Jones, the publisher of this newswire and a unit of News Corp. (NWSA).
Dow Jones will contribute the business, valued at $675 million, while CME will contribute market data services, valued at $607.5 million, to the joint venture. The venture issued $612.5 million in senior notes due 2018, which will be used to pay $607.5 million to Dow Jones.
CME shares were up 0.4% at $312.20 in after-hours trading, while News Corp.'s class A shares were flat at $14.02.
-By Jay Miller, Dow Jones Newswires; 212-416-2355; jay.miller@dowjones.com
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