The CME Group has acquired the Kansas City Board of Trade for $126 million in cash.
According to the terms of the deal, the CME Group will maintain a committee of KCBT market participants for advice on hard red winter wheat futures contracts for a period of at least three years and keep the KCBT trading floor open for at least six months.
Also, excess cash will be distributed to KCBT members once the deal closes.
Founded in 1856, the KCBT is the world’s largest hard red winter wheat futures market.
The CME Group owns the Chicago Mercantile Exchange, Chicago Board of Trade, and New York Mercantile Exchange.