I would think the NYSE has more opportunity for revenue growth than the CME? I must be missing something in the financial statement stats...
Have you seen CME's earnings compared to NYSE? I mean, CME operates a daily multi-trillion $$ derivatives market that makes the NYX's staple stock trading (I know, I know, they're trying to get into equiy derivatives now) look like peanuts in comparison. Everyone know's that Chicago is the REAL financial center of the universe. The two biggest and most liquid markets in the world trade largely through Chicago. Currency via Globex at CME, and the US debt complex via CBOT/eCBOT. Most stock options still go through CBOE, and CME's got all the electronic vol. for NYMEX. Watch out. C'mon now....which would you rather be invested in?
why? you dont seem to base this on any solid observations or current knowledge. look at the facts: every one is now going to london to get a listing (ipo) because of sarbanes-oxley - the most anti-competitive legislation ever to come out of bush's admin in their desire to ruin usa. what ceo in his right mind would want to list in usa (nyse) and be subject to a life of box ticking and a life time in jail if his accountants screw up? what about the cme? ice recently took over nybot and the whole industry is in consolidation mode. nyse is looking at european mergers and this creates a lot of uncertainty for them and the share price. derivatives volumes continue to go through the roof, and cme is well positioned to get its piece of the pie as the nymex comes to terms with the fact they are a just a corrupt, 2nd rate bagel joint and people wont trade their products unless its on a solid platform like globex. the future is looking bright for cme (and cbot, ice et al) you seem to be just looking at one piece of the evidence - the balance sheet. you need to look at the big picture. hope that helps. ps - nyse and their scum bag specialists are old school. big money just aint gunna be putting up with it much longer - one reason why they try and put out e-trading platforms. this last month alone 2 specialists have been banged up for thieving. how good is that for the share price?
with sarbanes oxley US stock exchanges are losing issues to overseas markets. the merc doesn't have to deal with that. Also the merc has much better electronic access which allows for greater volume resulting in more money.