Got it. That''s helpful. Thanks, guys.
Operator
We''ll go next to Niamh Alexander with Keefe, Bruyette & Woods.
Niamh Alexander – Keefe, Bruyette & Woods
Good morning. Thanks for taking my question. With regards to paying down the dealt and getting to like the 1.2 debt to EBITDA and then getting even lower later in the year, how should we think about all that cash that you''re generating? Would you maybe be looking to prioritize inorganic growth over maybe repurchases? Can you kind of update us on where your results are there?
James E. Parisi
I would just -- as you look out, we have maturities scheduled out over the next several years and we will be building cash in advance of the maturities to be able to pay down those maturities. I think, is a way to think about it for now. Of course, we continue to always be vigilant regarding our capital structure and we analyze it all the time.
Niamh Alexander – Keefe, Bruyette & Woods
So we should think about you can''t afford to carry the debt with the cash generating, but we should assume that you''re going to continue to just pay it down, right?
James E. Parisi
Yes.
Niamh Alexander – Keefe, Bruyette & Woods
Okay. Interesting. And then if I could, just on the second question. Operating margin -- is it feasible to think about CME getting back to like 65 to 66% operating margin as the volumes kind of grow? Could the open interest certainly pointing in the right direction? Is it maybe something that we need to see more of a step function? I don''t know like 2012 and you may not necessarily have to stay in New York anymore. How should we think about the operating margin potential?
James E. Parisi
First, I''d like to say I was really very proud of how the exchange operated in 2009 being able to hold the 62% margin given the environment that we''re operating in. Looking forward, as you look back at our history, as we''ve been able to add volumes to the platform certainly there is a lot of operating leverage in our model. I would expect that if we''re able to add those volumes that there would be potential margin expansion.
Niamh Alexander – Keefe, Bruyette & Woods
Okay. Thanks, Jamie. I appreciate taking the questions.
Craig S. Donohue
Niamh, I can just add to that, by the way, that obviously we''re committed to New York. I mean, it''s a significant place of business for us. We do plan to continue to maintain the open prior trading facilities there as long as they''re profitable and we have a significant employee base which we expect to remain there. So I just want to make that clarification.
Niamh Alexander – Keefe, Bruyette & Woods
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