FO Week poll finds mixed views on clearing deal
Industry figures think the common clearing deal between
Chicago Board of Trade (CBoT) and Chicago Mercantile Exchange
(CME) could be an important step toward a merger of the two
exchanges, according to the results of an FO Week
Most, however, feel that the political landscape in which
the Chicago exchanges operate means the road to a merger will
be long and arduous.
FO Week surveyed FCMs, traders, technology firms
and other industry figures about the likelihood of a merger,
and the merits or otherwise of the clearing agreement.
Respondents were split over whether CBoT made the right
decision in taking its clearing to CME. Some thought it was
both a wise business move for the exchange and a positive move
from the customers perspective. Others were not so sure,
pointing out that leaving Board of Trade Clearing Corporation
(BoTCC) may give a competitive advantage to Eurex, and that
without further details of the deal, the effects on the
customer could not be fully measured.
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