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14:02 NMX NYMEX-CME deal likely has leg up with regulators due to home-state political clout, sources say - FT Mergermarket (93.18 -13.48)
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14:02 NMX NYMEX-CME deal likely has leg up with regulators due to home-state political clout, sources say - FT Mergermarket (93.18 -13.48) FT Mergermarket reports although the potential tie-up of CME and Nymex is likely to draw some industry and regulator scrutiny, the cos are likely to find major political allies in their respective hometown politicians, industry sources told dealReporter. According to one source close to IntercontinentalExchange's (ICE) lost bidding war with CME over the Chicago Board of Trade merger last year, CME and NYMEX, based in Chicago and New York respectively, would likely find strong support in hometown presidential nominees (D-Illinois) Barack Obama and (D-New York) Hillary Clinton. "CME is very well plugged into Washington. We saw that last time [on CME/CBOT]," said a second source close to ICE on last year's bid for CBOT. "They've done a beautiful job of lobbying people on the hill. They've got a lot of friends in Congress. They're very tight with the Illinois delegation, sort of a Chicago gem. With the combo of the CME and CBOT, they're now even more important in Chicago. I think they're highly adept to dealing with the Washington theme."
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