CME Group (NYSE; Nasdaq: CME), the world's largest and most diverse exchange, today updated CME operating expense and capital expenditure guidance for the second half of 2007.
For the last six months of 2007, CME Group expects operating expenses, excluding merger-related costs for restructuring and integration, to total $425 to $430 million. This total includes $30 million for amortization of purchased intangibles resulting from the merger. The company expects operating expenses on a GAAP basis to total $460 to $470 million, which includes approximately $35 to $40 million of merger-related restructuring and integration costs. Non-operating expenses will increase as a result of recognition of the ERP guarantee and financing of the fixed price tender offer.
For the last six months of 2007, the company expects capital expenditures to total between $95 and $105 million, net of leasehold allowances, which includes the acceleration of the CME Globex and trading floor cutovers and continued expansion of data centers to support future growth.
The above statements are forward looking and actual results may differ materially. Please see "Note Regarding Forward-Looking Statements" at the end of this news release for a description of certain risk factors and CME Group's annual and quarterly reports on file with the Securities and Exchange Commission (SEC) for a more complete description of risks.
CME Group will provide operating expense and capital expenditure guidance for the full year 2008 when the company reports its full year 2007 results.
CME Group (http://www.cmegroup.com/) is the world's largest and most diverse exchange. Formed by the 2007 merger of the Chicago Mercantile Exchange Holdings and CBOT Holdings, CME Group serves the risk management needs of customers around the globe. As an international marketplace, CME Group brings buyers and sellers together on the CME Globex electronic trading platform and on its trading floors. CME Group offers the widest range of benchmark products available across all major asset classes, including futures and options based on interest rates, equity indexes, foreign exchange, agricultural commodities and alternative investment products such as weather and real estate. CME Group's Class A common stock is traded on the New York Stock Exchange and the Nasdaq Global Select Market under the symbol "CME."