Chicago Mercantile Exchange (CME) Law and Legal Definition

The Chicago Mercantile Exchange (CME) is an American financial and commodity derivative exchange based in Chicago. Originally, the exchange was a non-profit organization. The exchange demutualized in November 2000, went public in December 2002, and it merged with the Chicago Board of Trade in July 2007 to become CME Group Inc. CME trades several types of financial instruments: interest rates, equities, currencies, and commodities. It also offers trading in alternative investments such as weather and real estate derivatives.