Message #2 From:
Stock News Bot Date: September 8, 2006 08:58:00 AM
CME News Deutsche Bank Analyst Scott Appleby Initiates Coverage on the Exchanges Sector
NEW YORK--(BUSINESS WIRE)--Sept. 8, 2006--Deutsche Bank Securities Inc. today announced that research analyst Scott Appleby has initiated coverage of four stocks in the exchanges sector: Chicago Mercantile Exchange Holdings Inc. (NYSE: CME), CBOT Holdings Inc. (NYSE: BOT), International Securities Exchange Inc (NYSE: ISE) and NASDAQ Stock Market, Inc. (NASDAQ: NDAQ).
Appleby says the firms in this group are characterized by industry-leading scale, improving operating margins and highly leveraged operating structures which, he believes, could lead to consolidation.
In the initiation report, Appleby discusses how technology and electronic access continue to transform the exchange industry. "The electronic platform offers advantages in speed, narrowing spreads - price, information access and cost of execution," he said. As these advantages take hold, Appleby predicts rising volumes and increasing operating leverage.
Deutsche Bank
Deutsche Bank (NYSE: DB) is a leading global investment bank with a strong and profitable private clients franchise. A leader in Germany and Europe, the bank is continuously growing in North America, Asia and key emerging markets. With Euro 1,058 billion in assets and 65,435 employees in 73 countries, Deutsche Bank offers unparalleled financial services throughout the world. The bank competes to be the leading global provider of financial solutions for demanding clients creating exceptional value for its shareholders and people.
