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] Chairman Terry Duffy said the world’s largest derivatives exchange will continue to be the trading capital of the world. The exchange trade has been red hot for the past couple years, as industry consolidation coupled with higher volumes and increased efficiency in electronic trading has led these stocks higher almost across the board.
Duffy, a Chicago native, said CME’s growth remains strong, with an annual growth rate of 27%, and the acquisitions story isn’t drying up either. Case in point: CME just did deals with exchanges in Brazil and South Korea.
“We’re competing with the world today,” he said. Investors shouldn’t view the CME as just a U.S. exchange – the business of trading has gone global.
Pete Najarian and Guy Adami are big believers in CME’s part of the global exchange story. Pete sees “nothing but upside” for CME and Guy calls himself a “huge buyer” of the stock.
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Trader disclosure: On May 16, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Adami Owns (AGU), (C), (GS), (INTC), (MSFT), (NUE), (BTU); Pete Najarian Owns (AAPL), (BKC), (TSO), (XLF), (HPQ); Pete Najarian Owns (AA) Calls, (C) Calls, (MSFT) Calls; Macke Owns (MSFT), (ATVI), (DIS), (WMT), (INTC); Finerman Owns (GS); Finerman's Firm Owns (JCP), (MO), (MSFT), (NYX), (PLCE), (TSO), (VLO); Finerman's Firm Owns SPX Index Puts; Finerman's Firm Owns (C) And (C) Leaps, Finerman Owns (C); Finerman's Firm Owns (HD) And (HD) Puts, Finerman Owns (HD); Finerman's Firm Owns (YHOO) 1X2 Call Spreads; Finerman's Firm Is Short (IYR), (IJR), (MDY), (IWM), (SPY)
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