Brumfield threatens dire consequences if exchanges don't pay up
Mike Topping, Trading Technologies (TT) ceo Harris Brumfield
has set out why he believes TT is entitled to hundreds of
millions of dollars a year in payments from futures exchanges,
backed up by threats of worse consequences for the futures
industry if it fails to comply.
Brumfield's manifesto, running to several pages, was
released last week as an 'open letter to the futures industry'.
It states that TT could be "sold without notice" to an
interested party, and that "there are joint-venture offers for
TT to be part of launching a "super exchange".
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