The prospect of Trading Technologies (TT) succeeding in a
reported bid to secure per-lot fees from major exchanges
Chicago Board of Trade (CBoT) and Chicago Mercantile Exchange
(CME) last week appeared to be slim. While none of the parties
concerned wished to comment on whether an approach had been
made, insiders suggested that TT lacked the leverage to secure
a change in pricing.
TT reportedly approached Chicago Board of Trade (CBoT) and
Chicago Mercantile Exchange (CME) in a bid make the exchanges
pay for the volume that comes through its trading screens. TT
ceo Harris Brumfield famously estimates that at least 50% of
volume in the world's top four futures exchanges goe through
his firm's X-Trader product.
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