Market debates CBoT chief's attack in Eurex
Chicago Board of Trade (CBoT) ceo Bernie Dan continued to
brand Eurex and its proposed US Futures Exchange "opaque" last
week, but the argument did not appear to stick with Chicago
Several firm executives interviewed regarding criticisms of
price discovery and exchange fees said they have not
experienced any such problems with Eurex. And some charge CBoT
itself with historically running opaque markets on the
"For years, things that have gone on in the pits have been
totally opaque to investors," said Russ Wasendorf, chairman and
ceo of Peregrine Financial Group in Chicago. "There is a
mystery of what happens to an order when it goes into the pit.
There's a real lack of confidence on the part of customers that
they are being dealt with fairly, particularly when they don't
get the same price quote as the guy in the pit."
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