The clearing deal between Eurex and The Clearing Corporation
(TCC, formerly BoTCC) is raising questions among clearing
members who want to read the fine print before they approve
Under the deal, Eurex will take a 15% stake in TCC with an
equity value of $15m and hold a seat on the board of the
directors. The remaining 85% of the company or $85m, will be
held by its current shareholders, who will occupy the other
eight board seats.
That values the clearinghouse at less than half the $207m
offered by Chicago Board of Trade (CBoT) earlier this year.
CBoT president and ceo Bernie Dan told FO Week "One of
the things BoTCC shareholders will have to evaluate is whether
this [Eurex] deal is of greater value than what we were
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