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CME’s Duffy Did Not Talk to NYSE

Oliver Quilla for CNBC.com

Terry Duffy, Executive Chairman of CME Group told Maria Bartiromo in an CNBC Exclusive that he “did not” speak with Duncan Nierderauer, CEO of NYSE Euronext .

Bartiromo began by asking about the speculation out there that this is the beginning and we’re going to see a lot of new bidders in the space.

Bartiromo: Is CME Group going to break this up and acquire the Exchange?

Duffy: We are really focused on our core business and the growth of our core business, whether its OTC initiatives, the Dow Jones Industrial businesses acquired, getting our company more and more global. Our core business is something very critical to us. This is really what we are focused on. We obviously look at the transactions that are taking place throughout the world whether it's Toronto and LSE or Deutsche Borse and NYSE. But I just want to reemphasize we are really focused just on our core business.

When Bartiromo asked, “Have you spoken to Duncan Nierdauer to try to deal with New York?” Duffy replied, “We don’t comment on rumors of M&A. But to be honest, I have not spoken to Duncan.”

One industry expert, Benn Steil, Acting Director & Economist with Council on Foreign Relations believes that this is "far from a done deal" because "the parts may be greater than the sum."

Steil expects "other players in US would like to get their hands on pieces of the NYSE Euronext." Steil speculates that CME might be among those interested. Steil also pointed out NASDAQ "would almost certainly be interested in the NYSE’s US cash equity business and their Euronext equity business" ---- and others may be interested in the Liffe futures business.

Bartiromo asked Duffy if he agrees with Steil.

"Obviously the Liffe (futures) business and CME’s business is something that could be very attractive. But at the same time I just don’t think that could be realistic because you have so many different hurdles you’d have to cross before you can get to that. If those pieces were all laying on the side of the road and you could put them together and pick and choose… I completely agree, that would make a ton of sense, but that’s not the situation we’re in," said Duffy.

UPDATE:

One industry expert Benn Steil, Acting Director & Economist with Council on Foreign Relations believes that this is “far from a done deal” because “the parts may be greater than the sum.”

Steil expects “other players in US who would like to get their hands on pieces of the NYSE Euronext.” Steil speculates that CME may be interested. Steil also pointed out NASDAQ “would almost certainly be interested in the NYSE’s US cash equity business and their Eurnoext equity business” ---- and others may be interested in the Liffe futures business.

Bartiromo asked Duffy about the most attractive parts of NYSE Euronext.

“Obviously the Liffe (futures) business and CME’s business is something that could be very attractive. But at the same time I just don’t think that could be realistic because you have so many different hurdles you’d have to cross before you can get to that. If those pieces were all laying on the side of the road and you could put them together and pick and choose… I completely agree, that would make a ton of sense, but that’s not the situation we’re in” said Duffy.

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