Exchange frees itself from Espeed contract
New York Board of Trade (Nybot) is looking for an electronic
trading platform for its financial products, having extricated
itself from a six year-old exclusivity deal with Espeed, FO
Week has learned.
The deal, under which Nybot was committed to using the
Espeed platform for any electronic trading, dates back to the
ill-fated Cantor Exchange (CX) joint venture launched in 1998.
The financial terms of the deal were weighted heavily in
Espeed's favour and Nybot has never launched electronic trading
of its own contracts.
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