BoTCC steps closer to Eurex deal, CBoT to go with CME
Board of Trade Clearing Corporation (BoTCC) leaders met last
week to consider a proposal for clearing from Eurex, as its
appears more likely that the clearing- house will end its
relationship with Chicago Board of Trade (CBoT).
A combination of recent moves by BoTCC, Eurex and CBoT seems
to be adding up to the following scenario. BoTCC will process
and clear trades for Eurex's US futures exchange, set to launch
early next year. Meanwhile, CBoT will shift its trade
processing and clearing to Chicago Mercantile Exchange
Sources close to BoTCC and Chicago exchanges say CBoT has
reached a tentative agreement with CME, which would allow CBoT
to continue a final attempt at negotiations with BoTCC through
May. If no deal is worked out by then, CBoT will then construct
an agreement with CME.
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