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CME moving? Does it matter to you?
Hearing some chatter that the CME Group may leave Chicago and find a new home. Will that matter to the grain markets, do you think? Also, where would be the best place for it to be located? Right in the middle of corn and bean country, or somewhere else far off? In the end, with as much of today's trading being electronic, do you think it matters?
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Re: CME moving? Does it matter to you?
Personally I think that it would be a mistake. Chicago is synonymous with grains on an international basis and has been for a long long time. It would be a huge shame from a trader's perspective.
Is there any decent reasoning for moving? As a shareholder and a member I am going to ask the CME directly - will advise if any feedback
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Re: CME moving? Does it matter to you?
Tax avoidance. It may also be a high stakes brinksmanship strategy to get an exemption.
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Re: CME moving? Does it matter to you?
Think about it. Almost anyone with a lifetime working for the CME in Chicago is likely to push the CME's case for individual job security.
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Re: CME moving? Does it matter to you?
One of my trade contacts that works in these CME Group buildings up for sale offers up his thoughts:
"As for CME, because this is NOT CBOT anymore: I have no real opinion on what they are doing. They claim the move to sell these buildings are not related to the threat to move, and no one seems to believe them much around here. They are real upset about the tax hike, but it is not like the state had a whole lot of choice. And out taxes for corp income are still lower than most others. Oh well. At any rate, I think CME will, if anything, try to move the corp offices to some other state for tax reasons and keep the facilities here. They seem to be setting up for that. They are probably trying to negotiate a bit with the governor to get a little help on the taxes too. Other companies are here. They can move the main officers and keep the rest here. That keeps the costs down and gets their goal I think. Otherwise, I think it would be too costly to move everything, and most of the allied companies, like you and me, would be loath to move I think, just because CME did."
Mike
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Re: CME moving? Does it matter to you?
It matters if they move it to china!!!!
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Re: CME moving? Does it matter to you?
A different company and somewhat different regulations as catalyst for the move, but it has happened before.
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Re: CME moving? Does it matter to you?
This sounds like every other company in this country.
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Re: CME moving? Does it matter to you?
We could use the jobs here in Ohio. Tell them Dayton has some beautiful low cost space downtown.
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Re: CME moving? Does it matter to you?
bring it to CHARLOTTE. would love to have it.