Firms and software vendors are gearing up for the imminent
switch of electronic trading and clearing platforms in
CBoT is scheduled to launch its new Liffe Connect-powered
platform in November and Eurex's electronic US-based exchange
will be launched in February next year. Clearing for CBoT will
switch to CME, while The Clearing Corporation will take on
clearing for Eurex US.
Mike Manning, president and ceo of Rand Financial Services
in Chicago, told FO Week that the bulk of his IT staff
is working on the clearing link, while others in operations are
handling the switch to e-CBoT.
"The clearing link is a far bigger endeavour for firms,"
Manning said. "It's a grind but it's going in the right
direction. Everything the Board of Trade and Merc have said is
supposed to happen in terms of testing, has happened."
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