CME Group Inc. today announced that it has completed its acquisition of Nymex Holdings, Inc.

The merger creates a company with pro forma 2007 annual revenue of US$2.7 billion and average trading volume of approximately 14.2 million contracts per day in the first two quarters of 2008.

The companies also announced they will begin integrating Nymex business operations in order to achieve approximately US$60 million in expected cost synergies. The timetable for integration includes: integrating membership systems in the first quarter of 2009; integrating fee systems in the second quarter of 2009; combining the Nymex and Comex trading floors in Q2; combining clearing systems and integrating price reporting systems in the third quarter of 2009.

CME Group chief executive officer Craig Donohue stated, “Our Nymex and Comex acquisition further strengthens CME Group’s leading position in global financial markets and provides significant and valuable new growth opportunities for our shareholders, customers and members. CME Group has a strong track record of delivering cost synergies and realizing revenue and growth opportunities from consolidation transactions and we now look forward to the integration of our two great companies.”