Morningstar Rating

Stock Research and Analysis

by Gaston F. Ceron

Bulls Say

Continued investor interest in derivatives trading will keep boosting CME Group's volume and profits.
The over-the-counter derivatives market is a good avenue for future growth at CME Group.
In an age when defensible business models are hard to come by, CME Group's clearinghouse business gives the company unique control over its revenue stream. Read more 

Bears Say

CME Group is now paying the price for its acquisition spree, as its returns are lagging.
CME Group's strong position in the derivatives market is attracting more interest from rivals and regulators, which may act in ways that hurt the company's moat and profitability in the years ahead.
The headier days of volume growth may become increasingly more rare going forward, which would limit CME's profit growth. Read more 

Management

We view CME Group's stewardship of shareholder capital as Standard. The company's board splits the roles of chairman and CEO, an arrangement we generally favor. CME Group's leadership has extensive experience in the futures business, so we view the   Read more 

Profile

Based in Chicago, CME Group operates five financial exchanges. The company's roots stretch back to the 19th century; it became a shareholder-owned corporation in 2000 and   Read more 

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