Takeover attempt widens rift
The rift between Chicago Board of Trade (CBoT) and Board of
Trade Clearing Corporation (BoTCC) widened last week and the
relationship appears to be heading toward a complete split,
sources have told FO Week.
"If I had to place a bet today, I'd say the Board of Trade
would start their own clearinghouse and BoTCC will clear
Eurex," said one source, close to both CBoT and BoTCC.
Sources also told FO Week that the $207m buyout
offer by CBoT was not nearly enough. And the ongoing pressure
by CBoT to resolve the matter quickly may have permanently
damaged ties between the two entities.
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