CME
ACCE-researchedOverview
ACCE thesis
CME Group runs the world's largest derivatives exchange, clearing futures and options across interest rates, equity indexes, energy, agriculture, and metals - over 3 billion contracts annually. The structural moat here is network liquidity: CME's open interest concentration in rate products like Eurodollars and SOFR futures makes it nearly impossible for a competitor to fragment volume without fragmenting price discovery itself. The Federal Reserve's prolonged higher-rate environment has been a direct revenue accelerant - rate volatility drives hedging demand, and CME's interest rate complex generates roughly 30% of total revenue. At 23.7x forward earnings with a 69.8% operating margin and essentially no cost of goods sold, this is a toll-road business that prints cash at scale; the question is whether rate vol sustains or collapses back to 2020-era suppression. The 14.4% revenue growth suggests the macro backdrop is still working in CME's favor, and the stock hasn't been given a premium multiple despite operating metrics that would embarrass most software companies.
- moderateHeavy insider net sellingLast 10 transactions show $14.33M sales vs $0.44M buys, a 33:1 sell/buy ratio despite 42% insider ownership.
- moderateLow momentum scoreACCE Momentum score is 25/100, the weakest component, suggesting near-term price trend is poor relative to peers.
Walk me through this stock
Plain-English pros, cons, and what to watch. Pro feature.
Price
Valuation
INVESTORSix independent models converge on one confidence-weighted fair value, with full methodology and editable assumptions.
- +All six models: DCF, P/E and EV/EBITDA comps, Graham, dividend discount, residual income
- +Scenario bands, sensitivity tornado, and the 5-year historical valuation range
- +Editable DCF workbench with saved scenarios
Quality
INVESTORThe full quality picture: conviction breakdown, earnings quality, score history, and backtested returns.
- +Conviction score breakdown and earnings-quality grade
- +Growth / value / quality / momentum component scores
- +90-day score history and score-threshold backtests
Analysts
Wall Street consensus
The full analyst picture: the price-target distribution against the current price, forward consensus estimates, and how ACCE's own models compare.
- +Price-target low / average / high vs the current price, with implied upside
- +Forward revenue and EPS consensus by fiscal year
- +ACCE fair-value models lined up against the Street
Smart Money
PROFollow the institutions: 13F position changes, insider trades, and active 13D activist filings.
- +Quarter-over-quarter institutional position changes
- +Recent open-market insider transactions
- +Active 13D activist filings and top holders
Compare
Where it sits vs peers
Algorithmic peers (6)
| Ticker | Company | Mcap | P/E | ROE | D/E | Yield | Quality | |
|---|---|---|---|---|---|---|---|---|
| ICE | Intercontinental Exchange Inc. Common Stock | $87.3B | 21.7 | 14.1% | 0.68 | 1.3% | - | Compare |
| SPGI | S&P Global Inc. Common Stock | $119.5B | 24.7 | 14.3% | 0.42 | 1.0% | - | Compare |
| MCO | Moody's Corporation Common Stock | $81.2B | 29.3 | 76.9% | 1.75 | 0.9% | - | Compare |
| 0388.HK | Hong Kong Exchanges and Clearing | $62.5B | 24.8 | 33.6% | 0.01 | 3.6% | - | Compare |
| DB1.DE | Deutsche Boerse | $57.4B | 24.0 | 20.4% | 0.67 | 1.5% | - | Compare |
| LSEG.L | London Stock Exchange Group | $53.1B | 29.7 | 7.7% | 0.56 | 1.9% | - | Compare |
Sector report card
Where CME ranks against its sector peers on each metric.
News and Record
Press releases mentioning this company
- PR Newswire•Sep 15, 2026CME Group Expands Credit Ecosystem with Launch of Liquid Leveraged Loan Index Futures
- PR Newswire•Sep 14, 2026CME Group 100-Ounce Silver Futures Draw Significant Demand in First Weekend of 24/7 Trading
- PR Newswire•Sep 14, 2026Webull Expands Futures Offering with CME Nano Futures, Bringing Smaller Equity Index Contracts to Retail Investors
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