Following a 99% shareholder vote in favour of
demutualisation on 14 April, Chicago Board of Trade (CBoT) has
revealed plans to list Class A shares worth approximately $150m
in the second half of
The announcement, widely predicted in the market,
follows the recent offering by International Securities
Exchange and the lucrative Chicago Mercantile Exchange (CME)
IPO. The latter exchange has its seen share price rise over
450% since listing in October 2002 as derivatives
exchanges adopt for-profit business structures to compete
globally in an increasingly electronic
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