McGraw-Hill, CME Launch S&P-Dow Jones Index Joint Venture
McGraw-Hill and CME Group today unveiled S&P Dow Jones Indices, a joint venture that combines McGraw-Hill's S&P Indices with CME's Dow Jones Indexes subsidiary.
As reported by Inside Market Data last November, former executive managing director of S&P Indices Alexander Matturi has been appointed chief executive of the joint venture (IMD, Nov. 5, 2011), while S&P Capital IQ president Lou Eccleston is chairman of the board of directors, which also includes Robert Shokotko, managing director of S&P Dow Jones Indices; Charles Teschner, executive vice president of global strategy and corporate development at McGraw-Hill; Elizabeth O'Melia, senior vice president of treasury operations at McGraw-Hill; John Pietrowicz, senior managing director of business development and corporate finance at CME; and Scot Warren, senior managing director of equity index products and index services at CME.
McGraw-Hill holds 73 percent of S&P Dow Jones Indices, while CME and Dow Jones own 24.4 percent and 2.6 percent, respectively, and under the commercial terms of the deal, CME will pay S&P Dow Jones Indices a percentage of any listing, trading and clearing revenues linked to index products operated by the joint venture.
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