CME to Buy Back $750M of Shares

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CME Group Inc will buy back up to $750 million of shares over the next year, the giant exchange operator said on Monday.

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CME's decision to spend its extra cash on a share buyback program suggests CEO Craig Donohue is sticking to his commitment to returning capital to shareholders and staying out of the merger frenzy that has gripped competitors.

NYSE Euronext in February agreed to a friendly takeover by Deutsche Boerse AG. Nasdaq OMX Group and IntercontinentalExchange Inc are trying to break up that merger with their own unsolicated offer to buy NYSE.

CME will buy back shares "subject to market conditions," it said.