Emanuel says he's 'confident' CME will stay in Illinois

Mayor Rahm Emanuel says he's talked to the executive chairman of the CME Group and is "confident" the financial exchange will stay in Illinois.

Emanuel's comments Thursday come one day after CME Group Chairman Terrence Duffy told shareholders that CME might have to move its headquarters because of a steep increase in the state's corporate income tax, from 4.8 percent to 7 percent.

Emanuel says CME has been successful in Chicago and he believes "they have many years ahead."

Emanuel says he understands their frustration but would not say whether changes were needed in the state's corporate income tax.

Duffy says CME could retain some operations in Illinois if it relocated. Analysts say it's unlikely CME would move all operations in the near term.